For a third consecutive year, Dr Richie Nanda – executive chairman of The Shield Group and Topsgrup (the Indian security solutions brand) – features in The Sunday Times Rich List (the UK’s definitive guide to wealth).
Dr Nanda enters the prestigious list of high-net-worth individuals with a sustained increase in personal wealth, from £187 million in 2013 to £195 million 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%. In the current financial year, annual turnover is expected to be £160 million (US$ 270 million).
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 Rich List 2014 entry is also reflective of the company’s new contract wins, including the award of the visitor services and security contract with the Imperial War Museum Group.
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 sector and paved the way for a fresh approach to business security provision in the UK.
As well as modernising the security sector in India and the UK, Dr Nanda has also implemented grass roots-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 in Preston.
The inclusion of Dr Nanda and other prominent Asians in the Rich List also further enhances the successful synergy between the Asian sub-continent and the UK. The powerful ‘super class’ 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 on to social care).
Pioneer in the Indian security world
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’s widely acknowledged as the pioneer and the most prominent spokesperson of the burgeoning security industry in India.
Dr Nanda was recognised as an outstanding entrepreneur after he took over the reins of Topsgrup at the age of 22. Back then, it was an ailing company with revenues of just £30,000 per annum and eight customers. Dr Nanda built the business 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 in The Sunday Times Rich List 2014, Dr Nanda commented: “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.”
Dr Nanda continued: “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.”
He went on to add: “The growth in the industry also confirms 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 offering risk-based, bespoke and holistic security solutions to a variety of clients.”
Leading entrepreneur from the security sector
Philip Beresford, who combines The Sunday Times Rich List each year, explained: “The Sunday Times Rich List is an annually compiled index of the UK’s wealthiest individuals across an array of sectors, from enterprise, entrepreneurship, entertainment, sport and public life. Since its inception over 20 years ago, the Rich List 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.”
Beresford also stated: “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. 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.”
In conclusion, Beresford said: “Dr Nanda is widely acknowledged to have rejuvenated the security industry in India. With the acquisition of The Shield Group 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.”
Dr 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.