Spice Global*, the parent group of S Mobility and Spice Digital, has appointed Ozi Amanat as its Chief Investment Officer. Amanat will also be joining Spice Global’s board. Spice Global includes businesses like Si2i Mobility (holding co. of Si2i Limited and S-Mobility Limited), Spice Studios, Wall Street Finance Limited and Paper Plus.
The group plans to diversify to other emerging business areas and said that Amanat will be responsible for formulating strategies the growth of new businesses, tracking the group’s asset portfolio and carry out liaison work with the group investors. The Spice group has recently forayed into healthcare.
Prior to this appointment, Amanat served as the Managing Director and Chief Investment Officer (CIO) of a New York-based multi-billion dollar family office. Before this, he was one of the members of the President’s Circle at Baylor College of Medicine and a Director at Oppenheimer and Co, an asset management and financial advisory service firm. He has also served on the board of Mount Sinai Hospital and continues to be on the board of Seeds of Peace, a non-profit peace building youth organisation.
In July 2012, Spice Group had appointed Siddhartha Jain as the CEO of Spice Labs, who will be responsible for the development of consumer applications at the company. Following this appointment, the group stated that the former CEO Dr. Abhinav Mathur will start focusing on his primary role as the Chief of Strategy and Technology of Si2i Mobility.
Mobile Devices Business Spin-off: In the same month, S Mobility had also spun off its devices business as ‘S Mobile Device Limited’ and and had received the approval from its Board of directors to transfer the handset business of the company to S Mobile Device Limited. The company had also appointed TM Ramakrishnan as the Chief Executive Office (CEO) of S Mobile Devices Limited. Ramakrishnan was previously the Assistant Vice President at S Mobility (Spice Mobility).
S Mobility Management Overhaul: In February 2012, Spice had overhauled its management to consolidate the holdings of promoters, Dr BK Modi and his family into a separate holding company called ‘S i2i Mobility Private Limited’ which held 68.65% stake in S Mobility Limited and was headed by Modi as the Chairman, and Board of Directors comprising of professionals and members of Dr. Modi’s family. This move enabled S Mobility to operate independently and appoint a new CEO, RS Desikan, who was previously the Group CFO & Director Finance at Mastek Limited.
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*Disclosure: Spice Digital is an Advertiser with Medianama