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Board of Directors

Devesh Sachdev
Devesh Sachdev
CEO & Director

Company’s Founder & CEO, Devesh Sachdev, An XLRI Post Graduate with 16 years of experience in the Service Industry prior to starting Fusion in 2009-10. He started his career with Citigroup in 1996..

His entrepreneurial quest started with BSA, a small size logistics company. He spearheaded the growth of BSA from single city operations, limited service offerings to Pan India foothold and diversified services making BSA the Market Leader in its segment. Devesh was the first professional manager to be appointed Director on the Board of all the group companies of BSA.

Amongst the diverse experiences, his expertise lies in building business, managing large teams in a cost efficient manner, strategy, key relationship management and handling all dimensions of the business.

Under his leadership, Fusion has grown into one of the leading microfinance institutions and continues to expand its operations.

In 2015, he attended and successfully completed Strategic leadership program in Harvard Business School.

He also sits on the Board of MFIN, a Self-Regulatory Organization for NBFC-MFIs. MFIN works closely with regulators and other key stakeholders and plays an active part in the larger financial inclusions dialogue through the medium of microfinance.

Aditya Bhandari
Aditya Bhandari
Nominee Director

Aditya joined the Board of Directors of Fusion Microfinance in May 2010 representing 'Rural Impulse Fund - North 2', Belgium. Aditya holds Board-level positions in several other leading MFIs in India. Aditya leads Incofin's investment portfolio in South Asia. He has over 13 years of experience in private equity, venture capital, investment banking and corporate finance. His professional repertoire includes working with Aavishkaar Venture Capital, Goldman Sachs and Standard Chartered Bank.

Aditya is a Chartered Accountant and has attended executive programme's at Harvard Business School and Indian School of Business.

Njord Andrewes
Njord Andrewes
Nominee Director

Njord Andrewes is Investment Director in NMI AS. NMI AS is an asset management firm that seeks to balance financial and social returns. The Investment Director has the overall responsibility for developing and managing the fund(s), including implementing the investment strategy. Prior to joining NMI, Mr. Andrewes was a Senior Equity Research Analyst at Lazard Capital Markets. Before Lazard, Mr. Andrewes was an Equity Research Analyst at Janney Montgomery Scott, LLC. He began his career at Robertson Stephens in Sales and Trading. Mr. Andrewes received an MBA in Finance from Kelley School of Business at Indiana University, and a B.A. in Economics from Hope College. Mr. Andrewes holds several Board or Director positions, as well as a member of several advisory committees of financial inclusion funds.

Albert Hofsink
Albert Hofsink
Nominee Director

He started his career in 1977 as an auditor in South Africa and returned to The Netherlands in 1982 when he joined Ernst & Young in Utrecht.

He joined Oikocredit, a global social investor investing capital (debt and equity) in the emerging microfinance sector as well as agricultural cooperatives and social enterprises in more than 60 developing countries, in 1995. In 2002 he was appointed CFO and Director of Finance & Administration and in 2013 as Director for Risk Management Compliance and IT. He spent more than a decade on the Management Board of Oikocredit with responsibilities ranging from Accounting, Treasury, Finance, Tax, Risk Management and IT. Albert has extensive experience in a multicultural environment and in developing countries. He retired from his position end of April 2015, and started consulting and strategy support activities regarding Responsible Investments.

He has served on the Boards of: HKL (a successful Cambodian MFI); Maanaveeya Development Finance India and other operating subsidiaries of Oikocredit, including in the Ukraine. He is currently serving on the Boards of Fusion Microfinance in India, Musoni Microfinance in Kenya, Yalelo Limited a sustainable aquaculture enterprise in Zambia and is on the advisory Board of the 4F Fund (an ethical investment Fund based in the Netherlands).

Albert holds a Bachelors in Accounting, and Honours degree in Accounting & Controlling as well as a Certificate in Theory of Accountancy from the University of South Africa.

Anita Serrate
Anita Serrate
Nominee Director

Ms. Anita Serrate is a forewoman with 15+ years of experience with bank, Non-bank financial institutions, MFIs at international level. She has worked with Morgan Guaranty and later Euroclear Bank in multiple functional areas like Credit, Account Management and Risk. She has in depth knowledge of Credit Risk, Market Risk in Financial Institutions, Intensive Bank Analysis, Bank and Non- Bank Financial Institution Analysis and Basel II training. Currently she is working as an Investment Officer at BIO Invest SA, Belgium.

Ken Vander Weele
Ken Vander Weele
Nominee Director

Mr Ken Vander Weele is a co-founder and partner in Creation Investments Capital Management, LLC, a fund management company that manages several specialized private equity vehicles that invest in emerging market financial services companies serving poor clients.

From 2000 until 2009 Mr Vander Weele served as the President of the Investment Services Division at Opportunity International, a major microfinance network. Mr. Vander Weele was responsible for the development and oversight of all commercial MFIs within the Opportunity Network, garnering over $1 billion in assets during his tenure. During this period, Mr Vander Weele was involved in forming three microfinance banks in Eastern Europe (Forus Bank-Russia, Opportunity Bank-Montenegro, and Opportunity Bank-Serbia), and Ken served as the board chair of each bank.

Between 1991 and 2000, Mr. Vander Weele held various positions within the Opportunity International Network, including Global COO, Regional Vice President for Eastern Europe and Interim CEO.

From 1975 to 1981, Mr. Vander Weele held various positions at Grant Thornton, CPAs, in their Madison, Boston, Chicago, and US National Office. From 1981 to 1991, he was the Senior Vice President, CFO and a founding shareholder of Graphisphere Corporation, a graphic arts holding company with private equity shareholders, until it was sold to a strategic buyer.

Mr Vander Weele was also a founder and the board chair of the Microfinance Centre for Eastern Europe from 1998 until 2006 and the Balkan Financial Sector Equity Fund from 2005 to 2011.

Mr Vander Weele has a PhD in international economics from Oxford University, and a BBA in Accounting from the University of Wisconsin. Ken is also a CPA.

Javed Ahmad Siddiqui
Javed Ahmad Siddiqui
Nominee Director

Mr. Javed Ahmad Siddiqui is nominee director of the company. He holds Bachelor of Engineering (Mechanical) from Aligarh Muslim University, Aligarh. He also did his Masters in Business Administration in Marketing from AMU.

He joined SIDBI in 1995 and held important positons in various departments like Business Development, HR, Administration, etc. and for 10 years in different SIDBI branches. He prior prestigious postings include heading the Okhla, Ludhiana and now New Delhi branch of the bank.

Nitin Gupta
Nitin Gupta
Independent Director

Nitin is the Founder of Argus Partners, India's only professional firm which focuses exclusively on helping companies find great Independent Non-Executive Board Directors. He is a non-executive co-founder of Faircent, India's first and best known P2P lending company. He is a Board Director at Loylty Rewardz, India's #1 cards loyalty management company, which was funded by Canaan Partners and Venture East and then acquired by Bill Desk.

Nitin was a non-executive Co-Founder of Lets Buy, one of India's most successful e-commerce start-ups, which was sold to FlipKart, India's #1 e-commerce company.

During 2003-08, Nitin was with MasterCard Worldwide as their CEO and Country Manager for South Asia. Earlier, Nitin has been the President of Rediff.com, and President of GE Capital India's retail financing business.

Nitin received an MBA from IIM, Ahmedabad, a law degree from Bombay University, and an Economics Honours degree from St. Stephen's College, Delhi.

Pradip Kumar Saha
Pradip Kumar Saha
Independent Director

Mr. Saha was a Chief General Manager, Small Industries Development Bank of India (SIDBI) and senior development banker with more than 36 years of experience in development banking. He started his banking career with IDBI and has been with SIDBI since its inception. During his long career in IDBI & SIDBI, he has handled various departments, some as Head of Department. Specific contributions made by him in HR, Project Finance, SIDBI Foundation for Micro Credit (SFMC), Promotion and Development departments is worth mentioning

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