First Mumbai will serve industry-leading clients across the US, India and the Middle East from its offices in Mumbai, New York, and Chicago.
A well-known name in Global Rewards and Executive Remuneration and Corporate Governance in India, Shekhar Purohit announced the launch of a new Human Consulting firm – First Mumbai Consulting. First Mumbai Consulting will specialize in key areas of executive rewards, corporate governance, and compensation consulting. First Mumbai will serve industry-leading clients across the US, India and the Middle East from its offices in Mumbai, New York, and Chicago.
Shekhar is a seasoned Executive and Management Consultant with extensive global experience in the United States, Europe, the Middle East, India, and Southeast Asia. Prior to starting his own consulting firm, Shekhar was Managing Director and head of the San Francisco office at Pearl Meyer & Partners, a leading corporate governance and executive compensation consulting firm and held several leadership positions at Hewitt Associates (now Aon Hewitt), including the Global Head of Compensation Consulting and the Asia Pacific Practice Leader. His role at these organizations specialized in board and corporate governance, executive coaching, global strategy development, global rewards, performance management systems, and organization development.
Speaking on the launch of his new firm, Shekhar Purohit, said, “First Mumbai Consulting is really a Think Tank. In today’s environment, Executive Compensation and its overall alignment to financial and non-financial corporate objectives and to other key stakeholders has the ability to impact businesses across all industries in a meaningful way and this requires a deep understanding of the overall strategy and current market conditions of the firm and then its alignment with compensation; we believe this is a redefined way of thinking which is currently not there. With First Mumbai Consulting, we aim to change that…
At First Mumbai Consulting, the vision is to build a firm that is focused on increasing the business results of firms through the use of executive rewards and performance measurement. A firm’s executive compensation cost is a significant contributor to its overall manpower cost and we believe that firms currently don’t know how to measure the ‘return on the total cost of executive management’. We can do that. India continues to have significant wage and total compensation increases at the senior management levels, which often exceed compensation increases in other global markets by 400-500 basis points. Is this truly sustainable and if so, how are companies measuring the return on this investment in senior management on an annual and long-term basis. India is the only truly democratic economy that still has double digit potential growth and I am very pleased to have launched First Mumbai Consulting in India.”
First Mumbai Consulting aims to help clients develop compensation programs that motivate leadership to optimize the organization's competitive advantages, manage their talent, and
improve their economic performance. The new consulting firm will provide clients with total compensation consulting services for executives, employees and outside directors. The firm will engage in three broad practice areas: Executive Total Compensation Services; Board of Director Compensation Services and Corporate Governance Services.