Skip to content
Search

Latest Stories

Jitesh Gadhia: “A peerage is a job, not an honour”

INVESTMENT banker Jitesh Gadhia said strengthening the future of Britain’s financial services and the UK’s ties with India will be a focus for him when he enters the House of Lords.

Kampala-born Gadhia was honoured with a peerage as part of David Cameron’s resignation honours list announced last Thursday (4).


He told Eastern Eye: “It’s a huge privilege and responsibility to be nominated by David Cameron to join the Lords. A peerage is a job, not an honour.

“I will be joining parliament at a defining moment in British history as we grapple with the new realities post Brexit. We stand at a crossroads for the UK and its future relationship with the rest of the world.”

Outlining his priorities, Gadhia said his aim would be threefold: “First, to help secure the best possible future for UK financial services which represents over two million jobs, underpins business investment and generates substantial tax revenues that pay for essential public services;

“Second, to help strengthen our international economic links, notably between UK and India;

“And finally, to connect parliament and key decision makers with 1.5 million British Indians, particularly the next generation.”

Gadhia, 46, has been associated with some of the largest investments between the UK and India.

He has been in banking for more than two decades and has advised on mergers and acquisitions and capital raisings across industry sectors.

Gadhia worked with Barings, ABN AMRO and Barclays banks, before joining Blackstone, the world’s largest alternative asset management firm where he was a senior managing director.

He is a member of the board of UK Government Investments Limited and the BGL Group, which owns the UK’s largest financial price comparison website comparethemarket.com and is currently preparing for an IPO on the London stock exchange.

Gadhia’s wide experience in connecting emerging market companies with developed markets, notably from the BRIC countries, will prove useful when he joins the Lords.

He is a member of the UK-India CEO Council, set up during India’s prime minister Narendra Modi’s visit to UK in November 2015, and he has accompanied delegations to the Indian subcontinent with Cameron and former Lon don mayor Boris Johnson.

India’s High Commission in London tweeted after Gadhia’s peerage was an nounced: “Glad to see new addition to list of British Indians in House of Lords. Wish you very best Jitesh Gadhia!”

Foreign and Commonwealth Office minister Alok Sharma said on Twitter: “Jitesh Gadhia will bring a wealth of business experience to the #Lords – great appointment.”

When Cameron welcomed Modi at Wembley Stadium in London last year, he concluded his speech, said to be written by Gadhia, with the words, “Acche din zaroor ayengey (good days are indeed ahead)”, a reference to what the visiting leader said when he won the general election in India in 2014.

Gadhia also told Eastern Eye he was set to meet Rajesh Agarwal, London’s new deputy mayor for business, this week to discuss how London retains its status as a premier financial hub.

“There are a lot of complex technical issues around ‘passporting’ and ‘equivalence’ of regulatory regimes which will need to be worked through. Above all, the voice of financial and professional services must be properly represented at the Brexit negotiating table,” Gadhia said.

“Beyond access to the single market in services, it is our openness as a city to new people and ideas and preserving the whole ecosystem of specialists skills that will be key to retaining Lon don’s competitive advantage.”

Gadhia’s father Kishorebhai was a prominent figure in the Gujarati community. He left India for Uganda before arriving in the UK in the 1970s.

A Cambridge graduate (he studied economics), Gadhia did his masters in management from London Business School. He told Eastern Eye about early influences on his life.

“I worked closely with the late Ugandan Asian industrialist Manubhai Madhvani, who I admired greatly. He was a unifying figure in our community with a unique skill set for bringing together different people to achieve a common goal. I would certainly like to emulate his inclusive approach.”

Last year, he worked with then chancellor George Osborne to help initiate a review of crematorium facilities in the UK. Gadhia said: “I feel strongly about tackling some of the practical issues facing the British Indian community. That’s why I worked with former chancellor Osborne.

“We should proactively identify other pressing community issues which need to be reviewed and address them systematically.

“The public consultation by the Department of Communities (on crematorium facilities) ended in May and I am looking forward to discussing the conclusions with the new secretary of state, Sajid Javid.”

Gadhia has also been recognised internationally for his expertise – he was selected as a ‘Young Global Leader’ by the World Economic Forum.

Through the Gadhia Foundation, he supports charities in UK and abroad. He lives in Northwood, Middlesex, with his wife Angeli and two children, Priyana and Dev.

Gadhia will be joined in the Lords by civil rights campaigner Shami Chakrabarti, whose name was put forward by Labour leader Jeremy Corbyn.

One of the most senior Asian peers, Lord Navnit Dholakia, of the Liberal Democrats, told Eastern Eye: “I welcome both these appointments. We expect them to make positive contributions to the important work of the Lords.”

Economist Lord Meghnad Desai said: “They are well-deserved honourees.”

More For You

F-35B jet

The UK has agreed to move the aircraft to the Maintenance Repair and Overhaul (MRO) facility at the airport.

Indian Air Force

F-35B jet still stranded in Kerala, UK sends engineers for repair

UK AVIATION engineers are arriving in Thiruvananthapuram to carry out repairs on an F-35B Lightning jet belonging to the Royal Navy, which has remained grounded after an emergency landing 12 days ago.

The jet is part of the HMS Prince of Wales Carrier Strike Group of the UK's Royal Navy. It made the emergency landing at Thiruvananthapuram airport on June 14. The aircraft, valued at over USD 110 million, is among the most advanced fighter jets in the world.

Keep ReadingShow less
Ahmedabad air crash
Relatives carry the coffin of a victim, who was killed in the Air India Flight 171 crash, during a funeral ceremony in Ahmedabad on June 15, 2025. (Photo: Getty Images)

Ahmedabad crash: Grief, denial and trauma haunt families

TWO weeks after the crash of Air India flight AI-171 in Ahmedabad, families of victims are grappling with grief and trauma. Psychiatrists are now working closely with many who continue to oscillate between denial and despair.

The crash occurred on June 12, when the London-bound flight hit the BJ Medical College complex shortly after takeoff, killing 241 people on board and 29 on the ground. Only one passenger survived.

Keep ReadingShow less
Starmer apologises for 'island of strangers' immigration speech

Prime minister Keir Starmer delivers a speech at The British Chambers of Commerce Global Annual Conference in London on June 26, 2025. (Photo by EDDIE MULHOLLAND/AFP via Getty Images)

Starmer apologises for 'island of strangers' immigration speech

PRIME MINISTER Sir Keir Starmer has admitted he was wrong to warn that Britain could become an "island of strangers" due to high immigration, saying he "deeply" regrets the controversial phrase.

Speaking to The Observer, Sir Keir said he would not have used those words if he had known they would be seen as echoing the language of Enoch Powell's notorious 1968 "rivers of blood" speech.

Keep ReadingShow less
Sir Sajid Javid leads commission 'tackling social divisions'

Sir Sajid Javid (Photo by Tom Nicholson-WPA Pool/Getty Images)

Sir Sajid Javid leads commission 'tackling social divisions'

A cross-party group has been formed to tackle the deep divisions that sparked last summer's riots across England. The new commission will be led by former Tory minister Sir Sajid Javid and ex-Labour MP Jon Cruddas.

The Independent Commission on Community and Cohesion has backing from both prime minister Sir Keir Starmer and Tory leader Kemi Badenoch. It brings together 19 experts from different political parties and walks of life.

Keep ReadingShow less
​Masum

Masum was seen on CCTV trying to steer the pram away and, when she refused to go with him, stabbed her multiple times before walking away and boarding a bus. (Photo: West Yorkshire Police)

West Yorkshire Police

Habibur Masum convicted of murdering estranged wife in front of baby

A MAN who stabbed his estranged wife to death in Bradford in front of their baby has been convicted of murder.

Habibur Masum, 26, attacked 27-year-old Kulsuma Akter in broad daylight on April 6, 2024, stabbing her more than 25 times while she pushed their seven-month-old son in a pram. The baby was not harmed.

Keep ReadingShow less