1971 - B.Tech - Chemical Engineering Hamblin Watsa Investment Counsel Ltd., Ontario, Canada
Mr.V.Prem Watsa has distinguished himself in the field of Insurance and Finance in the competitive environment of Canada. He is among the elite group of IITians who have become the Chief Executive of Multibillion dollar Corporations in North America.
After graduating from the Institute in 1971 with a First Class degree in Chemical Engineering, Mr.Prem Watsa joined the University of Western Ontario and obtained his Master Degree in Business Administration.
Mr.Prem Watsa’s professional career began in 1974 when he joined Confederation Life Insurance Company where he did investment research and managed stock portfolios for pension clients. Having gained insight into the working of this industry, he founded the company Hamblin Watsa Investment Counsel Ltd. (now owned by Fairfax) with an associate. He now manages $18 billion in pensions, individual and corporate funds through this company. In terms of results of long-term investments of funds of clients, his company ranked in the top 10% across Canada.
In 1985 Mr.Prem Watsa took control of the financial service holding company, Fairfax Financial Holdings Limited, as its Chairman and Chief Executive Officer. He manages a company with a total asset of $31 billion earning an average annual return of about 20% on shareholders equity. This company is listed in the Toronto Stock Exchange.
Mr.Prem Watsa is a Chartered Financial Analyst. His membership includes Fairfax Financial Holding Limited and Lindsey Modern Group. He is a Member of the Board of Trustees of the Hospital for Children and is the Chairman of the Investment Committee of St. Paul’s Anglican Church.
IIT-Madras is happy to bestow the Distinguished Alumnus Award on Mr.Prem Watsa.