GFG Alliance has appointed a leading global steel industry executive as its group chief investment officer as it brings back its Liberty business from the brink.
Sandip Biswas will be responsible for delivering sustained commercial and investment performance, playing a key role in supporting the group’s debt restructuring and transformation plans, areas in which he has deep expertise.
He joins from Tata Steel, where for 17 years he has held senior and board level positions in its joint ventures and subsidiaries.
Read more: Boost for steel firms as UK and US agree deal to partially end tariffs
Liberty was days away from being wiped out after HMRC served a winding up petition on the business, but fresh funds were injected saving thousands of jobs at the Rotherham-headquartered business just weeks ago.
Sanjeev Gupta, executive chair of GFG Alliance, said: “Sandip is a top-notch global steel executive of the highest calibre. Sandip’s deep experience as a financial strategist, and his expertise in major steel decarbonisation projects will be crucial to our future success as we put the business on a path for sustainable long-term growth.
I’m delighted Sandip is joining us and I look forward to working with him in delivering GFG’s commitment to a sustainable future and the Greensteel transformation.”
Mr Biswas will also lead on GFG’s efforts to become carbon neutral by 2030 - CN30 - applying his strong track record in developing decarbonisation projects.
At Tata he oversaw the group’s financing strategies, including capital structure, mergers and acquisitions and capital raising activities.
In July 2019 he became Tata Steel Europe’s executive director responsible for driving the company’s transformation programme and was appointed to the board.
Most recently he was chair of Tata Steel UK, and has sat on the boards of companies across various geographies in South East Asia, India, Africa, Europe and Canada spanning across port, shipping, coal and iron ore mining and steel industries.
“GFG’s growth trajectory and the group’s focus on Greensteel transformation puts it in a unique position in our industry,” Mr Biswas said. “The group has some excellent assets across the world which are performing exceptionally well and provide a solid platform for success. The next few years will be formative for the group as it completes its restructuring and transformation, and I’m excited by the opportunity to play a key part in the journey, especially its Greensteel and CN30 missions.”
