The Board of Directors of SBM Holdings Ltd comprises a team of high-calibre profiles who are responsible for the strategic direction and its long-term success in all the markets we serve.
Group Board of Directors Holdings
Mr Mahendra Vikramdass Punchoo
Date of Appointment
15 September 2025
Qualifications
• Masters in Economics with Merit – Birkbeck College, University of London, UK
• Maîtrise in Economic Sciences – University of Aix-Marseille III, France
• Licence in Economic Sciences – University of Aix-Marseille III, France
Background and Experience
An economist by training in France and the United Kingdom (UK) and by profession, Mr Punchoo worked close to 25 years in the Bank of Mauritius (BoM) Department of Economic Research, Analysis and Statistics during which he held various senior positions before being appointed as Second Deputy Governor in December 2014 until his retirement in February 2020.
During his career at the BoM, he has developed core competencies in economic analysis and research, banking regulation and supervision, financial markets and foreign exchange reserves management. His diverse skill set comes from the high offices he has occupied as Deputy Governor and Member of the Board of Directors and of the Monetary Policy Committee of the BoM. He also served on the Board of Directors of Statistics Mauritius and was a Member of the Financial Reporting Council. In his capacity as Deputy Governor, he represented the Central Bank in various international and regional organisations.
His atypical background offering a rare combination of a macroeconomist with a fairly deep knowledge of the economic and financial development of Mauritius and of a banking sector specialist in the field of regulation and supervision creates a unique value proposition in terms of his outlook and insights.
Directorship in other entities
SBM (Bank) Holdings Ltd (Chairman), SBM (NBFC) Holdings Ltd (Chairman), SBM (NFC) Holdings Ltd and other entities of the SBM Group
Mr Mohamed Javed Aboobakar
Date of appointment
16 October 2025
Qualifications
• BA (Hons) Accounting and Finance – University of Leeds, England
• MBA (International Business) – University of Bristol, England and the Ecole Nationale des Ponts et Chaussées Paris, France
• LLB (Hons) – University of London, UK
• Trust and Estates Practitioner (TEP)
Background and Experience
Mr Aboobakar has a wide experience in setting-up and administering private equity and credit funds, real estate funds, hedge funds, hybrid funds and Special Purpose Vehicles (SPVs) and multinational companies investing in Asia, Middle East and Africa for the last 25 years.
He was formerly the Managing Director of Citco (Mauritius) Ltd and has been also responsible for Citco’s corporate & trust offices in India, Dubai and New Zealand.
Prior to joining the Citco Group, the leading Alternative fund administrator in the world with around USD 2 trillion AUA, he was a director of one of the largest fiduciary companies in Mauritius (Multiconsult), which was part of DCDM (ex-Arthur Andersen). He was previously the General Manager of BNPI (BNP Paribas) Offshore Banking Unit and General Manager of BNPI (BNP Paribas) Mauritius Trust Corporation.
Within these various roles, he has been actively involved in investment and strategy committees, corporate and fund governance frameworks and committees, Investor relations, AML/CFT, Financial Reporting and dealing with various Regulators around the world.
Directorship in other entities
Samena Capital Investments Ltd (Dubai International Financial Centre), SBM (NBFC) Holdings Ltd, other entities of the SBM Group, The Union Sugar Estate Company Ltd (DEM) and various companies in the global business sector
Mr Pramod Kumar Bissessur
Date of appointment
11 April 2025
Qualifications
• Doctorat en Droit privé et Sciences Criminelles (currently reading) – Université Paris Nanterre, France
• Master of Laws with specialisation in Commercial Law (Company Law, Insurance Law, International Tax Law) – University of Birmingham, UK
• Bachelor of Laws (Honours) – University of Mauritius
Background and experience
Mr Bissessur is a seasoned legal scholar who has been lecturing law at University level for over two decades. He has also been a lead corporate trainer and has conducted several workshops for the Board of Directors and the Management teams of companies that are mainly in the financial sector. He has carried out extensive legal research, and his articles have been published both in international peer reviewed journals and in local newspapers. He has moreover regularly participated in international conferences and webinars. His core competencies are in Corporate Governance, Company Law, Risk Management, Insolvency Procedures and Public Governance.
He is a propounder of good governance procedures and international best business practices to be adopted by the Board of Directors of companies. He also aligns with modern decision-making concepts such as climate governance and artificial intelligence, which are pertinent to the financial and banking sectors.
Directorship in other entities
SBM (Bank) Holdings Ltd and other entities of the SBM Group
Mr Raoul Claude Nicolas Gufflet
Date of appointment
28 November 2022
Qualifications
• Advanced Management Programme – INSEAD, France
• Certified Internal Auditor (CIA) – Institute of Internal Auditors, USA
• Post Graduate Diploma International Finance – Université de Paris XIII, France
• Master’s Degree in Economics (specialisation in Finance) – University of Paris (La Sorbonne), France
• BSc Economics – University of Paris (La Sorbonne), France
Background and experience
Mr Gufflet is a seasoned professional with over three decades of experience in banking and finance. Throughout his career, he has gained extensive knowledge of banking and financial markets across multiple and diverse jurisdictions. He began as a strategic consultant in audit and corporate advisory at PwC, working with banks and central banks across France, Central and Eastern Europe and Africa. He has also contributed to studies conducted in collaboration with the World Bank and the European Bank for Reconstruction and Development, focusing on financial institutions in both developed and transitional economies.
Before joining the SBM Group, he served as Deputy Chief Executive Officer at a leading bank in Mauritius, where he also sat on the boards of its entities across Africa and the Indian Ocean. He has been instrumental in building the international franchise of that bank, establishing its footprint in Structured Finance and Commodities Trade Finance across Africa. He also played a key role in transforming other business units, creating alignment with international best practices, regulatory and technological trends. A strong advocate for ESG principles in responsible banking and finance, he is dedicated to fostering sustainable banking practices - key drivers in unlocking long-term shareholder value.
Directorship in other entities
SBM (Bank) Holdings Ltd, SBM Bank (Mauritius) Ltd, SBM (NBFC) Holdings Ltd, SBM (NFC) Holdings Ltd and other entities of the SBM Group
Mr Mooneesing Janna Naikeny (Vimal)
Date of appointment
11 November 2025
Qualifications
• Strategic Management in Banking Programme – INSEAD, Fontainebleau, France
• Leading Digital, Executive Program – MIT Sloan School of Management - US
• Executive Program in FinTech and Regulatory Innovation – Cambridge Judge Business School - UK
• Master of Business Administration - Université Paris-Dauphine, France
• MSc in Project Management – University of Mauritius
• B.Eng. in Computer Science and Engineering – University of Mauritius
Background and experience
Mr Naikeny brings to the Board over two decades of senior leadership across banking, central banking and financial services, complemented by deep expertise in the technology fields that increasingly define how banks compete. He represents a new generation of banking leadership: one that pairs sound financial judgement with the digital fluency modern institutions demand.
As Head of Technology and Operations at Standard Bank Group, Mr Naikeny sat at the centre of one of Africa’s largest banking franchises, contributing to a 20% increase in revenue and reducing client onboarding time by 40%. His remit covered core banking operations, payments, risk systems and the customer experience platforms that underpin retail and corporate banking across multiple African markets, thus giving him a rare end-to-end view of how a large bank runs.
His tenure as Advisor to Management at the Bank of Mauritius placed him at the heart of the country’s financial system. He led the implementation of the National Payment Switch, which materially improved the efficiency and resilience of interbank settlement in Mauritius, and contributed to work undertaken by the Bank of Mauritius on the Central Bank Digital Currency. This gives him a regulator’s perspective on prudential supervision, payment system oversight and financial stability, which is an asset on any banking board.
Earlier in his career, Mr Naikeny held senior roles at Huawei Technologies and Emtel Ltd, where his work on Emtel Cash helped extend financial services to underbanked segments of the Mauritian population, which served as an early and concrete contribution to financial inclusion.
Mr Naikeny is a recognised voice on the future of banking, having addressed forums including Mobile World Congress in Barcelona and AfricaCom. He writes regularly on the intersection of financial services, regulation and technology.
Directorship in other entities
SBM (Bank) Holdings Ltd, SBM (NBFC) Holdings Ltd, SBM (NFC) Holdings Ltd, SBM Bank (Mauritius) Ltd and other entities of the SBM Group
Mr Deobruthsingh Jaypaul
Date of appointment
11 April 2025
Qualifications
• Masters in Business Administration - University of Cork, Ireland
• PgDL- Bar vocational course – University of Northumbria, UK
• LLB (Hons) – University of Wolverhampton, UK
Background and experience
Mr Jaypaul is a highly skilled litigator with 17 years of experience in civil and criminal matters. He has been the intellectual property rights representative of a foreign digital imaging technology company and acts as legal advisor to several private companies. He has also been the legal advisor of the Medical Council of Mauritius and the Medical and Health Officers Association - MHOA.
Mr Jaypaul has been involved in several companies in Mauritius providing legal assistance and guidance in their transformation journey for streamlining their operations and strategies. He is a member of the Honorable Society of Lincoln’s Inn London, UK and the Mauritius Bar Association.
Directorship in other entities
SBM (Bank) Holdings Ltd and other entities of the SBM Group
Mr Aakash Krishan Kalachand
Date of appointment
11 April 2025
Qualifications
• Associate of the Institute of Chartered Accountants in England and Wales (ACA, ICAEW)
• BSc (Hons) in Accounting & Finance - London School of Economics, UK
Background and experience
Mr Kalachand is a distinguished business and finance expert with over 15 years of extensive experience across diverse sectors, including financial services, risk management, investment, operational and strategic management and corporate governance.
Currently, he holds the esteemed position of Executive Director at J Kalachand & Co. Ltd, where he contributes significantly to the management team, overseeing the company’s operations with strategic insight.
Mr Kalachand had served as an independent director on the Board of SBM Holdings Ltd (SBMH) and SBM Bank (Mauritius) Ltd (SBMBM) from 2014 to 2015. In his capacity as the former Chairman of the Risk Management Committee of SBMH and SBMBM, he was instrumental in fortifying their risk management framework and ensuring adherence to regulatory standards, notably the Basel III regulations.
His professional journey also encompasses roles at EPIC Private Equity LLP in London, where he functioned as an Investment Executive, and Deloitte LLP, where he served as a Senior Consultant. His expertise lies in audit, risk advisory, and regulatory compliance, having worked with prominent financial sector groups such as Morgan Stanley, Barclays Capital and BNP Paribas.
Directorship in other entities
J Kalachand & Co. Ltd, Mauritius Freeport Development, SBM Bank (Mauritius) Ltd and other entities of the SBM Group
Mr Nureshkumar (Ashok) Prayag
Date of appointment
19 May 2026
Qualifications
• Fellow of the Faculty of Actuaries – Edinburgh, Scotland, UK
• BSc (Hons) Actuarial Mathematics & Statistics – Heriot-Watt University, Edinburgh, Scotland, UK
Background and Experience
Mr Prayag is currently the Chairman of the State Insurance Company of Mauritius Ltd (SICOM Group). He brings over four decades of experience in the financial and insurance sectors.
In the 1990s, Mr Prayag played a key role in the African expansion of the local branch of German reinsurer Munich Re. Prior to that, he served as Controller of Insurance, the regulatory authority overseeing the insurance sector under the aegis of the Ministry of Finance.
In 2014, Mr Prayag founded Quantum Insurance, the first Mauritian insurance company to offer fully online services. He has also served on the boards of several leading organisations, including the Sugar Insurance Fund Board, the Mauritius Sugar Syndicate, the Mauritius Sugar Authority and SBM Bank (Mauritius) Ltd (formerly “State Bank of Mauritius Ltd”).
Directorship in other entities
Commission of Experts on Pensions Reforms (Chairman), SICOM Group (Chairman) and subsidiaries of the SICOM Group
Mrs Danisha Sornum
Date of appointment
11 April 2025
Qualifications
• Master of Public Policy (MPP) - Gerald R. Ford School of Public Policy, University of Michigan, USA
• Master of Laws with Distinction (LL.M. International Commercial Law) - University of Birmingham, UK
• Bachelor’s degree in laws (Honours) - University of Mauritius, Mauritius
• Fulbright Scholar
Background and experience
Mrs Sornum is a barrister-at-law, with a focus on International Trade and Investment Law, Arbitration and ESG compliance in banking practices. She has been a Consultant with numerous international institutions, including the World Bank and the African Development Bank. A seasoned corporate trainer, Mrs Sornum leverages her unique mixed legal and policy background to promote alternative dispute resolution and to mainstream ESG imperatives in business operations and management. As the youngest member of the Equal Opportunities Commission, she has investigated and facilitated conciliation in several cases of discrimination.
Mrs Sornum manages a portfolio of companies, both local and international, providing legal guidance and assisting them in drafting of internal policies, compliance and navigation of legal risks. She also collaborates closely with public and private stakeholders to foster diversity, equity and inclusion across the workplace and the community at large.
Directorship in other entities
SBM (NFC) Holdings Ltd (Chairperson) and other entities of the SBM Group
Mrs Belinda Vacher
Date of appointment
16 October 2025
Qualifications
• LL.M. International Business Law – Université Paris II, Panthéon-Assas, France
• Graduate Diploma in Law (In progress) – University of Lancashire, UK
• Master of Business Administration – University of Mauritius, Mauritius
• BSc (Hons) Finance – University of Mauritius, Mauritius
• Certificate of Business Accounting – Chartered Institute of Management Accounting, UK
• Strategy Execution for Business Leaders – INSEAD, France (Executive Education)
• Financing the Entrepreneurial Business Programme – London Business School, UK (Executive Education)
Background and experience
Mrs Vacher is a dynamic and distinguished finance expert and corporate law advisor with over 20 years of experience across listed and international companies in Mauritius, the UK and Africa. She has served in senior leadership roles within diversified conglomerates, driving strategic, financial and operational excellence at both group and functional levels.
Her core expertise lies in high-finance engineering, mergers and acquisitions, capital structuring, fund-raising, and complex deal execution, combined with a strong command of corporate governance, risk management, and audit oversight. A proven architect of transformation, she has led major reorganisations, turnarounds, and capital allocation strategies that strengthened performance and sustainability.
Mrs Vacher’s track record includes raising capital in multi-jurisdictions, listing on stock exchanges and fund-raising for leading entities, structuring financial products and championing ESG integration across corporate frameworks. Her leadership approach blends strategic vision, financial discipline, and cross-border execution, positioning her as a leader capable of steering growth and transformation across complex organisations.
Directorship in other entities
Ascencia Ltd, SBM (NFC) Holdings Ltd, other entities of the SBM Group and Velogic Holding Company Ltd