1. Can you provide us with some information about your background? Your education and career?

Rakesh: I graduated from the University of Illinois Chicago (UIC) in 1977 with a degree in Business Administration and concentrations in Quantitative Methods and Accounting. After graduating, I started working with Deloitte & Touche, LLP in Chicago where I also earned my CPA license. While I was at Deloitte, I got an opportunity to work with GE Capital in Corporate Finance where I also completed General Electric Company’s renowned two-year Financial Management Program. After a few years at GE Capital, I decided to move to Southern California for its beautiful weather. During my time in California, I worked with Warner Communications and First Interstate Bancorp in a variety of positions; Cigna HealthCare as its CFO; California Endowment as its CFO and CIO; and Intelligent Energy (a U.K. based firm) as its Board Member, Executive Vice President, CFO and COO. I earned my MBA at University of California Los Angeles (UCLA) with concentrations in Finance and International Business. I now run my own company and teach MBA classes at the Graziadio School of Business at Pepperdine University.

Abha: I grew up in India where I completed my master’s degree in English Literature. I then spent a couple of years in the U.K. where I earned my diploma in Cosmetology and Skincare and started my own extraordinarily successful Beauty business in India. I came to the US for a visit in 1987 where I met Rakesh, my future husband, and married him in 1988. I earned my teaching credential at California State University, Northridge (CSUN). I have been an entrepreneur all my life. I have owned Beauty business, owned a fine dining restaurant with a large banquet facility and also owned a string of franchised restaurants in the US. I sold all my businesses in 2017 and am currently enjoying my retirement.

2. Can you tell us more about how you have stayed connected to the University of Illinois since your time as a student?

Rakesh: I come from a family of educators with my mom being an English teacher and Principal in a high school and my late maternal grandfather being a renowned physicist, author of several textbooks in Physics and Principal of a few elite colleges. My father was also an educator before joining the government service and later starting his own business. My family and I always valued education. I owe a debt of gratitude to UIC and UCLA for my education and the career opportunities I got because of the education I acquired at these great institutions.

Abha and I have decided to establish endowments in the colleges of Business, Engineering and Medicine at both UIC and UCLA. To demonstrate our commitment to excellence, each school at both universities will award merit-based scholarships to outstanding students, on an annual basis. These scholarships will be named after my and Abha’s parents. The size of these endowments will be large enough to last in perpetuity even after awarding the scholarships. This is our humble way of honoring our parents’ legacy. We have started funding these endowments now, while we are alive, in order to start making a difference sooner.

3. Giving to the University of Illinois, Chicago is clearly important to you. Can you explain what compelled you to give and keep giving? What do you hope your philanthropy accomplishes for the university?

Rakesh and Abha: We consider ourselves fortunate and strongly believe that it is our duty to pay back to society that gave us many opportunities. Establishing these endowments at UIC and UCLA is our way of giving back to society. We hope these scholarships will attract from among the best and the brightest students.

4. What advice can you share about how to make a lasting impact at the University of Illinois?

Rakesh and Abha: In order to make a lasting impact, you must have both the resources and the heart to give.

5. What is your favorite University of Illinois memory?

Rakesh: I was able to work during my time at UIC to pay for my schooling. UIC provided me with a flexible class schedule to fit a part-time job in my daily routine. My college experience would have been even more challenging without the ability to work while putting myself through school.