Jaithirth (Jerry) Rao, Chairman of the EDS Asia Pacific Advisory Board, has decided to resign from the Company. Rao, popularly known as Jerry, was the founder of MphasiS (in which Baring PE invested and made a killing), which was sold to EDS in 2006. Rao also led EDS' operations in India as Vice President from 2006. "I am looking forward to more time now to pursue my personal interests," said Jerry Rao in a statement.
"He (Jerry Rao) played a pivotal role in the integration of the EDS and MphasiS and has been instrumental in enabling clients leverage this combined strength. Jerry has decided to move on from the company to pursue his personal interests," said Michael Coomer, Chairman of MphasiS and Senior Vice President of Asia Pacific and Japan Global Financial Services Industry, EDS.
Ever since he sold off Mphasis to EDS, Rao has been stepping up his profile in the venture capital/ private equity space. He is an active member of the Indian Angel Network and has backed legal process outsourcing firm JuriMatrix. He is also said to have invested in Grover Vineyards.
Rao is also a venture advisor to the US-based venture capital firm New Enterprise Associates, which has recently appointed ICICI Venture veteran Bala Deshpande. Besides this, Rao is also on board of IDFC Private Equity.
Before he started Mphasis, Jerry Rao was the global technology head of Citigroup, and was also instrumental in building consumer business of the bank in India, Middle East, Eastern Europe and UK.