Board of Directors


The Board may comprise of a minimum of 4 Directors and a maximum of 12 Directors. A quorum of 4 Directors is required for Board Meetings. Directors are re-elected to office at each Annual General Meeting of the Company.

Marc-Emmanuel VIVES (Chairman & Non-Executive Director)
Mr. Vives has been the Chief Executive Officer of CIEL Finance Limited since September 2014, bringing with him more than 25 years of experience at Société Générale. After initial steps within the General Inspection of the Group, he spent the next 18 years of his career in various assignments in emerging countries, first in Argentina as Commercial Director, then as Chairman and CEO of Société Générale Argentina. He moved then to Russia as CEO of Société Générale Vostok, before becoming First Deputy Chairman of Rosbank, and finally to India as Country Manager. He holds a Master’s Degree in Business Administration from HEC Business School France, as well as a degree in History from Sorbonne University in Paris.
Stéphane HENRY (Executive Director)
Mr. Henry has more than 25 years of investment management experience, with the last 15 years as group CEO of Investment Professionals Ltd (“IPRO”). IPRO has over USD 200 million of assets under its management, with offices in Mauritius and Botswana. Mr. Henry holds a Master II degree in Wealth Management from the University of Clermont-Ferrand, France.
Christine SAUZIER (Non-Executive Director)
Mrs. Sauzier is CIEL Group’s General Counsel. She heads the legal department, advises companies within the CIEL Group on compliance, deal structuring and shareholder matters, while also liaising with international and local lawyers in drafting, reviewing and negotiating commercial contracts and other legal documents. She has also been instrumental in dealings with the regulators like Bank of Mauritius, Financial Services Commission and with the Stock Exchange of Mauritius. Mrs. Sauzier has been involved in various Mergers & Acquisitions transactions for the Group with exposure to diverse industries like Banking, Hotels, Property, Healthcare, Private Equity, Textile, Agro Business and Fiduciary. She has also been involved in cross border deals in various countries notably in Sub-Saharan Africa, Indian Ocean and Asia. Mrs Sauzier is also the current Chair of The Mauritius Institute of Directors and sits on the Boards of the Financial Reporting Council and the Bank of Mauritius. Mrs. Sauzier is an Attorney-at-Law, holds an LLB (Hons) from the University of Mauritius and a Licence en droit privé from the Faculté des Sciences Juridiques, Université de Rennes, France.
Khushhal KHUSHIRAM (Non-Executive Director)
Mr. Khushiram holds an M.A in Economics from the University of Western Ontario, Canada. He has over 25 years of experience in the financial services Industry. In September 2000, he was elected as a Member of Parliament and appointed as Minister of Economic Development and Financial Services. In this capacity, he led a wide-ranging program of economic and financial reforms, established new legal and institutional frameworks for the non-bank financial sector, financial reporting and corporate governance, and anti-money laundering, and set up the Financial Services Commission, the Financial Reporting Council and the Financial Intelligence Unit. He also worked for the African Development Bank between 2005 and 2011. Mr. Khushiram currently acts as an independent Economic and Financial Consultant.
Philippe KOCH (Non-Executive Director)
Mr. Koch joined IPRO Fund Management Ltd (“IFML”) in August 2013 as Head of Fund Management. He has over 20 years of experience in the financial services industry. Before joining IFML, Mr. Koch worked in corporate and investment banking at international banks in Germany and Mauritius. At IFML, he managed pan-African equity and fixed income portfolios as well as local Mauritian equity portfolios. In 2019, he set up Miltenberg Capital Ltd as a spin-off of the African investment strategies he previously managed at IFML. Mr. Koch is a CFA Charter holder and holds the FRM designation. He further holds a Master Degree in Business Administration from the University of Applied Sciences, Essen (Germany).
Samila SIVARAMEN (Non-Executive Director)
Mrs. Sivaramen has over 20 years of experience in the financial services industry and she is Head – Strategy and Finance at Ciel Finance Limited since 2014. She contributes to supervising functionally all CIEL Finance Limited subsidiaries mostly on – but not limited to – questions related to financial performance and monitoring of synergies. She manages periodical financial reporting and projections at CIEL Finance Limited level and actively contribute to the search, analysis and implementation of investments for CIEL Finance Limited. She previously worked at Ciel Capital Limited as Senior Investment Executive. Prior to joining the Ciel Group, she worked at International Financial Services Ltd, one of the largest offshore management companies in Mauritius (now known as SANNE) for six years as a team leader. Mrs. Sivaramen holds a First Class degree in Commerce, with specialisation in money and banking from the University of Melbourne, Australia and she is also a Fellow of the Association of Chartered Certified Accountants, FCCA.
James LEUNG YIN KOW (Independent Director)
Mr. Leung was a member of a task team sub-committee for the Code of Corporate Governance for Mauritius (2004). Mr. Leung has 13 years of experience as Fund Manager and 3 years of experience as Stockbroker. He is currently the Managing Director of Skanda Business Consultants Ltd which provides services to Small & Medium Enterprises. He is also a member of the Business Conduct Committee of the Central Depository & Settlement Co Ltd relating to risk management issues. Mr. Leung holds a Master of Arts in Economics from York University (Canada) and is also a CFA Charter holder since 2000.
Imrith RAMTOHUL (Independent Director)
Mr. Ramtohul was appointed as Director on 12 February 2013. He graduated with honours from the University of Cape Town, with a Bachelor of Business Science degree. He holds the Chartered Financial Analyst designation, has earned the right to use the Certificate in Investment Performance Measurement™ (CIPM) designation and is a Fellow of the Association of Chartered Certified Accountants UK (FCCA). Mr Ramtohul is the Senior Investment Consultant at Aon Hewitt Ltd (Mauritius), a position he has held since 2012. Prior to Aon Hewitt, he was the Head of Investment at Mauritius Union Group. He has 20 years of experience in the financial sector.
Haadjra MOTALA (Independent Director)
Ms. Motala is a Fellow Member of the Association of Chartered Certified Accountants UK (“ACCA”). She has worked at Investment Professionals Ltd (“IPRO”) as a Fund and Corporate Accountant from 2011 and 2015. Ms. Motala currently acts as Finance Manager at Capital Drilling (Mauritius) Ltd.

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