Neil Cabral resigns as executive director, board member and CEO of The Himalaya Drug Company
Filed on August 17, 2021 | Last updated on August 18, 2021 at 08.47 am
The head was instrumental in conceptualising, overseeing and completing several of the group's projects
Big-hitter and banking veteran, Neil Cabral has stepped down from his position as executive director and board member at The Himalaya Drug Company. He has also relinquished his role as CEO of the single-family office after eight years at the helm.
Cabral executed his role to perfection at The Himalaya Drug Company and was instrumental in conceptualising, overseeing and completing several of the group's projects globally in a timely and cost-effective manner. It included creating the holding structure and formation of the Trust, of which he was also a Trustee.
Cabral is credited with launching the first Himalaya retail shop in Dubai. He was also responsible for designing, executing and seeking appropriate approvals from the Government of Dubai to build a world-class, state-of-the-art research and development centre for Himalaya in Dubai Science Park.
Commenting on his departure, Cabral stated: "During my eight-year tenure at Himalaya, I've been privileged to oversee a business which has grown exponentially, to over a billion dollars in revenue and more than 90 countries in reach. I've always been on the top of my game and it's time for me to do something more entrepreneurial, knowing I leave behind a strong business, poised for the future, in the hands of a capable management team. There are a lot of life lessons I've learned from the chairman Meraj Manal. He has not just been a dear friend but my guiding force, mentor and has always been there for me in my hardest times."
Cabral has expressed his interest in joining a prominent and leading asset management and multi-family office at DIFC (Dubai International Financial Centre), with the intention of putting his formidable expertise to play, advising a wider range of ultra-high-net-worth individuals (UHNW) clients on how to enhance their existing business(es), investment portfolios and grow strategically yet preserving their wealth.
Cabral joined Himalaya from Abu Dhabi Islamic Bank (ADIB), where he was MD and global head of Private Banking for the non-resident Indian (NRI) segment. Cabral leveraged ADIB's brand and strong capital position to build a book in excess of $1billion when he left ADIB to take on the new challenge of building the Himalaya business and its single-family office.
Over the course of his three-decade career, Cabral has also had stints with other leading multinational banks including Credit Agricole Suisse, Standard Chartered Private Bank, Citibank, ICICI Bank, and HSBC. Across all his senior management roles, Cabral's core expertise has been tangible and measurable value creation for the organisation and his UHNW clients.