>Wizardman: /* Philanthropy */ rm copypasted content from http://www.caravel-group.com/group/the-caravel-foundation that's also promotional

2021-04-13T22:27:55Z

Philanthropy: rm copypasted content from http://www.caravel-group.com/group/the-caravel-foundation that's also promotional

New page

{{BLP sources|date=October 2015}}
{{EngvarB|date=September 2014}}
{{Use dmy dates|date=September 2014}}
{{Infobox person
| honorific_prefix =
| name = Harindarpal Banga
| image =
| image_size =
| alt =
| caption =
| birth_date = 
| birth_place = Amritsar, India
| nationality = Indian
| citizenship = Indian
| education = Extra First Class; T.S. Dufferin (1968)
Master Mariner (1976)
Fellow of the Institute of Chartered Shipbrokers
| alma_mater = T.S. Dufferin
| years_active = 1979 to date
| organization = Caravel Group Limited
| known_for = Founder, Chairman & CEO of The Caravel Group Ltd
Chairman of Fleet Management Ltd
| net_worth = $1.5 billion
| spouse = Indra Banga
| children = 2 sons
| website = 
}}

'''Harindarpal Singh Banga''', known as Harry, is an Indian entrepreneur and philanthropist. He is the Founder, Chairman & CEO of The [[Caravel Group Limited]], a leading global conglomerate engaged primarily in [[Commodities trading|resources trading]], the provision of maritime services, and [[asset management]]. The Caravel Group Ltd owns [[Fleet Management Limited]], one of the world’s largest [[ship management]] companies, of which Harry Banga is also Chairman.

Banga began his career in the maritime industry before going into the commodities business. Prior to forming Caravel together with his two sons, he was Vice-Chairman of the [[Noble Group Limited]], a leading global commodities trading business.

According to [[Forbes]],<ref>https://www.forbes.com/profile/harindarpal-banga/#32896dcf7580</ref> as at February 2020, Banga has a net worth of $1.5 Billion and is ranked as the 1,818th richest person in the world.

==Early life==
Born in [[Amritsar]], India, and raised in [[Chandigarh]], Harindarpal Banga was educated at the Training Ship [[Training Ship Chanakya|Dufferin]], India’s oldest maritime academy. He earned his [[Master Mariner]] certification in 1976 and was commanding merchant vessels by the age of 27.<ref>https://www.firstpost.com/business/meet-caravel-group-chief-harry-banga-the-man-from-chandigarh-who-is-now-among-richest-in-hong-kong-4030737.html</ref>

In 1979 Banga joined the Gulf Group in [[Hong Kong]] – where he still lives – as Operations Manager. The Gulf Group was a [[Geneva]]-based international shipping and commodities business.

==The Noble Group==
Banga left Gulf in 1989, and became an early partner in Noble Group Limited<ref>https://www.forbes.com/profile/harindarpal-banga/#6afd03f47580</ref> in cooperation with [[Richard Elman]], helping to establish and lead Noble Chartering Limited. Noble Group was a supply chain manager of agricultural, industrial and energy products, and Asia's largest commodities trader.<ref>https://www.bloomberg.com/news/articles/2017-06-01/the-rise-and-fall-of-a-commodities-giant-in-asia</ref> Following Noble Group’s Hong Kong listing in 1994, Banga served as Vice-Chairman of the Group, and despite a low public profile, is widely credited as the driving force behind much of Noble’s success.<ref>https://www.forbes.com/sites/neerjajetley/2017/01/17/at-the-helm/#59f764c4673c</ref><ref>https://www.livemint.com/Leisure/VLS6Yo7Yn3gwklGJd8YQlN/Harry-Banga-The-commodities-captain.html</ref> His 21 years with Noble, as it rose into the Fortune 100, made Banga a wealthy man and earned him a place on the Forbes billionaires list as one of Hong Kong’s 40 richest men.<ref>https://www.forbes.com/lists/2011/82/hongkong-billionaires-11_Harindarpal-Banga_R3BW.html</ref>
In 2010 Banga stepped down as Vice-Chairman of Noble Group Ltd but remained on the Board as Vice-Chairman Emeritus. In 2011 he purchased the Noble Group’s ship management arm, Fleet Management Limited, from Noble.<ref>https://www.fleetship.com/shipmanagement/userfiles/news/company/Rasing_Indians_Profile.pdf</ref> He severed his ties with Noble in 2012.

==The Caravel Group==
Planning for a quiet retirement, Banga was instead persuaded by his sons Angad and Guneet – whose background is in asset management – to join them in a new venture in 2013.<ref>https://www.scmp.com/magazines/money/article/1461760/back-banga</ref> [[Hong Kong]]-based [[Caravel Group Limited]]<ref>https://issuu.com/sinoship/docs/maritime_ceo_issue_1</ref> is a diversified global [[Conglomerate (company)|conglomerate]] with three main lines of business. Banga has been Chairman and CEO of the Group since its inception.
Caravel Maritime – into which [[Fleet Management Limited]] was injected in 2014 – encompasses the Group’s maritime interests. With more than 550 vessels under management, Fleet Management is one of the world’s largest third-party ship management businesses. Caravel Maritime also includes Caravel Shipping, which provides in-house and third-party dry bulk commercial and [[Chartering (shipping)|chartering]] services, as well as maritime asset ownership – Caravel has a growing fleet of its own vessels – and other maritime investments.
Caravel Resources is engaged in the trading of industrial dry bulk commodities, with a focus on raw materials for steel making and power generation – principally [[iron ore]], [[coal]] and [[Coke (fuel)|coke]].
Caravel Asset Management makes direct investments in global liquid asset classes, as well as alternative investments such as [[private equity]] and [[hedge fund]]s. Its portfolio includes strategic investments in selected growth businesses such as [[Nykaa]] in India and [[Beer in Hong Kong|Young Master Brewery]] in Hong Kong. It operates with a strong focus on [[risk management]] to sustain returns through market volatility.
The Caravel Group benefits from the synergy between its different operating units, enabling it to offer integrated end-to-end value-added solutions along the supply chain. Caravel adheres to strict standards of business integrity and environmental and social responsibility.

==Philanthropy==
Harry Banga is known for his philanthropy, exercised primarily through The Caravel Group’s charitable arm, The Caravel Foundation Limited.<ref>http://www.caravel-group.com/group/the-caravel-foundation</ref> The Caravel Foundation awards scholarships to help deserving students attending [[Dartmouth College]], [[Duke University]] and [[Princeton University]]. In Hong Kong, it has a close partnership with the [[City University of Hong Kong]] (CityU).<ref>https://www.cityu.edu.hk/media/news/2019/11/08/prominent-business-leaders-support-cityus-highly-successful-exhibition-gallery</ref> The University’s Indra & Harry Banga Gallery is named after Harry Banga and his wife Indra. Always a supportive partner in Harry’s activities, Indra Banga is a Director of both The Caravel Group and The Caravel Foundation.

==Other positions and honours==
*Fellow of The [[Institute of Chartered Shipbrokers]].
*Former member of the Executive Committee of the [[Hong Kong Shipowners Association]].
*Honored in 2011 with the [[Pravasi Bharatiya Samman]] Award, the highest distinction conferred by the Indian government on overseas Indians.<ref>https://www.forbes.com/profile/harindarpal-banga/#35240cf27580</ref>
*In 2018 the National Maritime Day Celebrations Committee and the Directorate General of Shipping, India, honored Banga with the NMD Award of Excellence.<ref>https://www.forbes.com/profile/harindarpal-banga/#35240cf27580</ref>
*Honorary Fellow of City University of Hong Kong, conferred in October 2018.
*Member of the Court of City University of Hong Kong.
*Named as a “Most Influential Business Leader of Asia” by The Economic Times in 2019<ref>https://www.cityu.edu.hk/media/news/2019/11/08/prominent-business-leaders-support-cityus-highly-successful-exhibition-gallery</ref>

==References==
{{Reflist}}

{{DEFAULTSORT:Banga, Harindarpal}}
[[Category:Year of birth missing (living people)]]
[[Category:Living people]]
[[Category:Hong Kong people of Indian descent]]
[[Category:Indian billionaires]]
[[Category:Indian chairpersons of corporations]]
[[Category:Indian philanthropists]]
[[Category:People from Amritsar]]
[[Category:People from Chandigarh]]

Harindarpal Banga - Revision history

>Wizardman: /* Philanthropy */ rm copypasted content from http://www.caravel-group.com/group/the-caravel-foundation that's also promotional