Shanker Iyer, OBE: A Leading Light in The British and European Business Communities

An era draws to a close as Shanker Iyer steps down as BritCham President after six years at the helm. Inheriting a Chamber that was nearing bankruptcy, Shanker revitalised both the Chamber's finances and image and transformed it into the vibrant, highly respected, organisation it is today. BritCham is now one of the largest business groups in Singapore with a membership of over 1,000. Orient talks to Shanker about his journey thus far.

Born in Burma in 1951 into a family of accountants, Shanker spent his formative years in India before he left to study for his 'N levels in London. He began his chartered accountancy apprenticeship in London with Moores Rowland in 1968 becoming a partner in 1982.

Shanker first moved to Singapore in 1984 as Moores Rowland wished to expand its operations in the Far East. Shanker's first choice was Hong Kong but when told that Singapore was the chosen location, looked forward to the opportunity.

"Singapore was a career risk, setting up the office from scratch and not knowing the country or the people. I decided to accept the challenge and embrace the risk."

In the same year as setting up the Singapore office, Shanker first became involved in the Chamber. He signed up as a member and was appointed as one of the honorary auditors of what was then known as the British Business Association (BBA).

"Singapore 20 years ago was very different to the Singapore of today. Business networking was as vital then as it is today but socialising used to be confined to clubs and five star hotels. There was no social scene outside the clubs and areas like Boat Quay and Club Street didn't exist. A typical night out was listening to the Filipino band in the lobby of the Marco Polo!"

Moores Rowland grew from a start-up to a firm of over 40 during the next eight years. Shanker joined the board of the BBA in 1992 when Richard Hale was President. Shanker commented, "the BBA at that time was fairly low-key and organised mainly network nights and an annual economic forum. It certainly had a more British feel then as companies hadn't diversified as globally as today and expatriates were out on a limb due to limited communications."

In 1992 when Shanker had been resident in Singapore for eight years (after an initial posting of three) he decided to return to London for the education of his eldest son, Sunil. He returned to a bleak London which was in the midst of a deep economic recession.

Shanker took a one-year sabbatical whilst deciding where his career would take him next. He decided to return to Singapore and setup his own accounting and consulting practice. Shanker Iyer & Co was established in 1993 and now has a client base of around 500 clients.

In 1994 he was co-opted to the Board during Paul Ellard's Presidency (Paul's son Richard recently joined Shanker Iyer & Co as tax director) and in 1998 was invited to become President following the sudden departure of the current incumbent. "I was honoured yet shocked. It was not something I had considered but felt privileged to be asked."

Shanker became President in 1998 when the BBA was going through a period of change. It was in the process of changing its constitution to become a chamber of commerce following the government's relaxation of the rules governing business associations.

1997 had seen the start of the economic crisis that hit Singapore and the region. Singapore had not experienced such a recession since its independence in 1965 and it hit hard.

The Chamber was plunged into its own financial crisis in August 1998 when it was days away from bankruptcy. With the help of the British High Commissioner at the time, HE Alan Hunt, the Sustaining Member scheme was launched and financial help was at hand. A total of 25 companies supported the Chamber through an increased membership fee, keeping the wolf at the door while the Chamber reassessed its structure and finances.

"The next few months were spent reducing overheads drastically and putting together a framework for the Chamber to run as a business."

In 1999 The Sapphire Ball was held raising much-needed funds for the Chamber and its chosen charity, Club Rainbow. "The ball not only raised funds but raised the profile of the Chamber and established it within Singapore society as a major player," said Shanker proudly.

The next few years were spent implementing the changes brought about by the restructure. Subcommittees were established and chaired by a board director thus giving the board a sense of responsibility and accountability. Many initiatives germinated from these committees including Orient, the website, a government relations programme and the launch of the SME Award. "The SME Award is one of my proudest achievements. It gave the British community an opportunity to raise the profile of British business and for the Singapore government to acknowledge the economic contribution made by British companies."

Through Shanker's leadership the Chamber has amassed a long list of achievements but one thing that remains elusive is a growing corporate base. "We are delighted with the success of the BritPack which has grown from three members in 2000 to over 500 in 2004. However, a Chamber is measured by the number of corporate members it has and our numbers have reached a plateau over the Iast few years. Although we have seen growth of over 40 new corporate members per year, we have lost a similar amount due to the recession and globalisation. That is one ambition I hope the new board can achieve."

To date the highlight of Shanker's career was being honoured with an OBE for his services to the business community in Singapore in the Queen's New Year's Honour list in 2002. " I was completely flabbergasted but tremendously honoured. There I was in the full flow of my career and presidency being honoured for my contribution that I was so proud to be a part of, and which I felt was still in the early stages."

For the past two years, Shanker has also chaired the European Chamber of Commerce, an organisation that was borne out of the European national business groups. EuroCham was rejuvenised last year following the opening of an EU delegation office in Singapore and the government's wish to have a Singapore-EU Free Trade Agreement.

"The EC will play an increasingly active role in Singapore through business and trade relations, and it is important to have a conduit with one voice to leads these talks. EuroCham will be a platform for all the national business groups to channel their opinions and concerns on EU matters.

I hope that with my experience gained at BritCham, I can use my contacts and expertise to develop EuroCham into a significant force.

I wish Jonathan Asherson, incoming President, and the new board every success. BritCham has been a great experience for me and I look forward to watching it grow from strength to strength. I shall be watching and playing my part."