Dr Richie Nanda named one of the UK’s wealthiest NRIs with his wealth estimated at £195m
Dr Richie Nanda, Executive Chairman of The Shield Group, the UK’s largest independent Total Security Solutions provider, and TOPSGRUP,India’s most preferred security solutions brand, has for a third consecutive year been featured in the UK’s definitive guide to wealth, The Sunday Times Rich List 2014.
Dr Richie Nanda enters the prestigious list of high-net-worth individuals with a sustained increase in personal wealth, from £187mn in 2013 to £195mn in 2014, placing him at number 490 in this year’s Rich List.
Dr Nanda has demonstrated financial prowess and sound entrepreneurial ability in his astute leadership of two flourishing businesses – Topsgrup and The Shield Group. In the last financial year, both Topsgrup and The Shield Group displayed outstanding results with a growth in EBIDTA of 25%, and in the current financial year, its annual turnover is expected to be £160mn / US$ 270mn.
The increase in Dr Nanda’s personal fortune is attributed to his successful implementation of an innovative strategy to acquire and strengthen the corporate structure of The Shield Group, taking it to the coveted position of being the UK’s largest independent Total Security Solutions provider. TOPSGRUP was in fact the first Indian MNC to acquire a British security company. The entry is also reflective of the company’s new contract wins such as being awarded the visitor services and security contract with the Imperial War Museum Group, the world’s leading authority on conflict and its impact, focusing on Britain, its former empires and the Commonwealth, from the First World War to the present.
With the issue of global security at the forefront of most countries’ agendas, Dr Nanda’s vision in implementing an innovative Total Security Solutions delivery model at The Shield Group has regenerated the British security industry and paved the way for a fresh approach to business security provision in the United Kingdom. As well as modernising the security sector in India and the UK, Dr Nanda has also implemented grass-root level changes at The Shield Group, in the form of such enterprising facets as the launch of the company’s regional headquarters in Manchester and the establishment of a new, state-of-the-art ARC (Alarm Response Centre) in Preston.
The inclusion of Dr Nanda and other prominent Asians in the Rich List also further enhances the successful synergy between the Asian subcontinent and the UK. The powerful superclass of Asian entrepreneurs has made a positive impact on the British economy, contributing substantially to the UK’s GDP level, through a mixture of business interests, from security to steel, pharmaceuticals, property, finance and social care.
A self-made entrepreneur, Dr Richie Nanda is regarded as a leader in the global security sector, ensuring that the likes of high-profile sporting events, businesses and premier venues are protected. He is widely acknowledged as the pioneer and the most prominent spokesperson of the burgeoning security industry in India. He was recognised as an outstanding entrepreneur after he took over the reins of Topsgrup at the age of 22, an ailing company with revenues of just £30,000 PA and eight customers, and built it into India’s largest security group with revenues in excess of £160 million (FY2015), 93,000 employees, 130 offices worldwide and approximately 8,500 customers. The multi award-winning Topsgrup has also embarked on a global leadership mission with a vision to become a leading brand in the global security space and a US$10 billion security group by 2020.
Speaking about his inclusion again in The Sunday Times Rich List, Dr Richie Nanda said: ‘I am overcome with pride at being included in the Sunday Times Rich List for a third consecutive year. I consider the Rich List to be a testament of the hard work, dedication and courage of those visionary and enterprising individuals, who have made sacrifices and taken gut instinct risks to achieve success for their businesses, partners and countries alike.
‘I would like to state that my inclusion in The Sunday Times Rich List is very much a team effort. I owe this recognition to my vast family of 93,000 employees, 8,500 customers and hundreds of business partners, whose commitment to our vision, their unstinted loyalty and hard work has made TOPSGRUP and The Shield Group leaders in the global security industry.
‘The growth in the industry also confirmed the importance of security as a service, especially within the business sector. There has been an increased demand from customers for more cost-effective, high-quality security services, especially in the face of more advanced and varied security risks arising in the world and in the UK. As a result, The Shield Group has introduced its Total Security Solutions (TSS) delivery system model, which offers risk-based, bespoke and holistic security solutions to a variety of clientele.’
Philip Beresford, who annually combines The Sunday Times Rich List says of Dr Nanda’s inclusion: ‘The Sunday Times Rich List is an annually compiled index of the UK’s wealthiest individuals, setting out their considerable achievements, across an array of sectors, from enterprise, entrepreneurship, entertainment, sport and public life. The ‘Rich List’, since its inception over 20 years ago, has become an integral part of the UK’s business and social foundation. It is regarded by many people, both in the UK and internationally, as an invaluable source of information.
‘I heartily congratulate all those individuals who have made it into the 2014 Sunday Times Rich List. We have a number of esteemed millionaires in this year’s Rich List, including Dr Richie Nanda, the Executive Chairman of The Shield Group and Topsgrup. Dr Nanda is featured in 490th position in the Rich List, and is one of the few leading entrepreneurs from the security sector to be featured this year.
‘Dr Nanda is widely acknowledged to have rejuvenated the security industry in India and with the acquisition of The Shield Group in Britain in 2012, he has once again shown exemplary leadership, business vision, dynamism and an innovative approach to take The Shield Group to the position of being the largest, independent Total Security Solutions provider in the UK.’
The Sunday Times Rich List is a prestigious collection of the 1,000 wealthiest people and families in the United Kingdom. Richie Nanda joins the ranks of the super-rich steel magnate Lakshmi Mittal, industrialist Alisher Usmanov and Chelsea Football Club owner Roman Abramovich, as one of the wealthiest UK citizens born overseas but who predominantly work and/or live in Britain. Since its inception in 1989, The Sunday Times Rich List continues to be the definitive annual guide to showcasing Britain’s richest men and women across a broad spectrum of sectors.