Sushil Khushiram joins the Board of Cim Global Business companies as Chairman

The Cim Group is pleased to announce that Sushil Khushiram will be joining the boards of its Global Business entities, comprising Cim Fund Services Ltd, Cim Corporate Services Ltd and Cim Trustees Ltd, as from 1 September 2012.

Mr Khushiram is well known, as an economics and finance professional, for his significant contribution to the development of financial services in Mauritius. He held the position of Minister of Economic Development, Financial Services and Corporate Affairs, from September 2000 to December 2003, and of Minister of Industry and Medium Enterprises, Financial Services and Corporate Affairs, until June 2005.

During his term of office, he led a wide-ranging programme of reforms that included new legal and institutional frameworks for the non-bank financial sector, financial reporting, corporate governance, and anti-money laundering, with the establishment of the Financial Services Commission, the Financial Reporting Council, and the Financial Intelligence Unit.

Prior to joining Government, Mr Khushiram ran his own financial services business. He was Managing Director of Newton Securities Ltd, a licensed stockbroking company, before starting an investment management firm, managing an international portfolio and advising leading institutional investors. Elected Chairman of the Stock Exchange of Mauritius for two consecutive years as from 1993, he promoted a robust expansion of trading and issuance activities, and enhanced stock market infrastructure. As founding Chairman of the Central Depository and Settlement Co. Ltd., he launched the company's operations in 1997.

More recently, Mr Khushiram spent the last six years with the African Development Bank, initially as Senior Advisor to the President, based in Tunis, and then as Resident Representative in Egypt, stationed in Cairo. He also extended short term consultancy services to the African Export Import Bank before returning to Mauritius this year.

Vaughan Heberden, the CEO of the Cim Group states that Sushil Khushiram's considerable experience and eminent stature will be of invaluable assistance in taking the Cim Group financial services companies into the next phase of growth as a prominent player in domestic and international financial services. In addition to his capacity as Chairman of the global business companies within Cim, Mr Khushiram will also be providing strategic and consultancy services to the Cim Group.