EBIXCASH ANNOUNCES APPOINTMENT OF RENOWNED ECONOMIST SP KOTHARI
EBIXCASH ANNOUNCES APPOINTMENT OF RENOWNED ECONOMIST SP KOTHARI TO ITS BOARD OF DIR ECTORS, AS IT PROGRESSES TOWARD ITS PROSPECTIVE IPO IN INDIA
MUMBAI, INDIA – June 6, 2021: EbixCash Private Limited, a subsidiary of Ebix, Inc., a leading international su pplier of On-Demand software and E-commerce services to the insurance, financial, healthcare and e-learning industries announced the appointment of Mr. SP Kothari, as a new independent director to the EbixCash Board. Professor Kothari has senior executive experience in government, academia, and industry with expertise in str ategic and policy issues, securities regulation, auditing, and corporate governance.
S.P. Kothari is Gordon Y Billard Professor of Accounting and Finance at MIT’s Sloan School of Management. Mo st recently, from 2019 to 2021 he served as Chief Economist and Director of the Division of Economic and Risk Analysis at the US Securities and Exchange Commission.
In academia, Kothari was deputy dean of MIT Sloan School of Management (2010-15), and previously he headed the Department of Economics, Finance and Accounting at MIT. In addition, he Co-Chaired the Board of Gove rn ors of Asia School of Business, Kuala Lumpur, served as faculty director of the MIT-India Program, and edited the world-renowned academic publication Journal of Accounting & Economics.In 2008-09, Kothari was global head of equity research for Barclays Global Investors (acquired by BlackRock); he was a director of Bombay Stock Ex change (BSE) (2015-19); and he has consulted extensively on valuation and reporting, risk management, audit ing, and management compensation. 
Kothari is a recipient of numerous awards for his scholarship, incl uding one of India’s highest civilian honors – the Padma Shri award in 2020, Honorary Doctorates from London Business School, Univ ersity of Cyprus, and University of Technology, Sydney, and Ame rican Accounting Association’s Distinguished Contributions to the Accounting Literature award. SP Kothari said, “I am grateful for the honor of serving as a director of EbixCash that promises to tra nsform the financial & insurance service sectors, and the leisure and healthcare industry by offering seamless connectivity and ease of access to millions of consumers. The resulting productivity gains are crucial for the growth of national and individual incomes.”
“SP brings a rich blend of leadership level regulatory, accounting, strategic, and corporate governance exper ien ce across the industry, government and academic sectors to the Board. We are excited to have him on the Ebix Cash Board.” Robin Raina, Chairman, President & CEO Ebix Inc, said. “His experience and skills will provide us with the strategic guidance and direction that EbixCash needs as we embark on the next cycle of growth and a prospective IPO for EbixCash.”Kothari received his B.S. in Engineering from the Birla Institute of Technology & Science and his MBA (PGDM) from the Indian Institute of Management, Ahmedabad. Dr. Kothari earned his PhD from the University of Iowa.
About EbixCash
EbixCash is a leader in domestic and international money remittance, foreign exchange (Forex), travel, pre-paid and gift cards, utility payments and software solutions for lending, wealth management, bus exchanges and ins urance in India and other markets. EbixCash’s “Phygital” strategy combines over 320,000 physical distribution outlets in India and ASEAN countries with an Omni-channel online digital platform. EbixCash ’s Forex operations have a leadership position in India with operations in 20 international airports, including Delhi, Mumbai, Mum bai, Hyderabad, Chennai and Kolkata, conducting over $4.8 billion in gross transaction value per year (pre-COV ID-19). EbixCash’s inward remittance business is the clear market leader in India, processing approximately $5 billion in gross annual remittance volume (pre-COVID-19). Through its travel portfolio of Via and Mercury, Eb ixCash is also one of Southeast Asia’s leading travel exchanges with over 200,000 agents, 25 branches and over 9,800 corporate clients, processing an estimated $2.5 billion in gross merchandise value per year (pre-COVID-19). For more information, visit the Company’s website at www.ebixcash.com
About Ebix, Inc.
With 150+ offices across 6 continents, Ebix, Inc., (NASDAQ: EBIX) endeavors to provide On-Demand software and E-commerce services to the insurance, financial, healthcare and e-learning industries. In the Insurance sec tor, Ebix develops and deploys a wide variety of insurance and reinsurance exchanges on an on-demand basis, while also, providing Software-as-a-Service (“SaaS”) enterprise solutions in the area of CRM, front-end & back-end systems, outsourced administration and risk compliance services, around the world.
The Company’s EbixCash Financial exchange subsidiary is a leader in domestic and international money rem itta nce, foreign exchange (Forex), travel, pre-paid/gift cards, utility payments, software solutions for lending, wealth management, bus exchanges and insurance in India and other markets. Ebix and its subsidiaries employ thousan ds of domain-specific technology professionals to provide products, support and consultancy to thousands of cu stomers on six continents. For more information, visit the Company’s website at www.ebix.com
