London, United Kingdom, November 2025 — Milan Makwana has started his new role as Group Chief People Officer at LetterOne, joining the global investment organisation as a member of the Executive Committee and reporting directly to the CEO. In this strategic leadership role, he also serves as Secretary of the Remuneration and Nomination Committees, shaping people strategy for a diversified business that manages over $20 billion in AUM and supports more than 120,000 employees worldwide across energy, food retail, and technology investments.
Before joining LetterOne, Milan served for nearly eight years as Chief HR Officer, EMEA at Mizuho EMEA, one of the world’s largest financial institutions. Leading an HR team across 11 locations, he played a pivotal role in driving cultural integration, HR transformation, regulatory alignment under the FCA/PRA regimes, and large-scale organisational design initiatives including the creation of a universal bank structure in the EU. His work strengthened employee engagement, accelerated business transformation, and elevated diversity, equity, and inclusion across the region.
Prior to Mizuho, Milan spent seven impactful years at Moody’s Corporation, where he led HR across EMEA and served as Global Head of Talent Acquisition. His leadership contributed to major HR transformations, including global restructuring into Centres of Expertise, HR technology modernisation, acquisition integration, and the creation of Moody’s employer brand and recruitment strategy. He also played a key governance role as UK Country Manager during the organisation’s Brexit preparedness initiatives.
Earlier in his career, Milan spent over twelve years at J.P. Morgan, progressing from Graduate Trainee to Executive Director, Human Resources, with responsibilities spanning investment banking, markets, asset management, and private banking across London, New York, Geneva, and Luxembourg. His early career formed the foundation for his global people leadership expertise across complex, multi-country environments, supported by his academic grounding at The London School of Economics and Political Science (LSE).
About LetterOne
LetterOne is a global investment business headquartered in Luxembourg, focused on building high-performing companies through long-term investment, deep sector expertise, and strategic operational involvement. With more than $20 billion in assets under management, LetterOne invests its own permanent capital in sectors that offer resilience, societal relevance, and long-term growth potential, including energy, food retail, and technology.
The organisation holds full ownership of prominent global businesses such as Holland & Barrett (UK) and Destination Pet (US), and maintains significant influence in companies including Dia Group (Spain) and Veon (UAE). LetterOne’s disciplined and operationally grounded approach has earned it a strong reputation for transforming companies and unlocking sustainable value through strategic oversight and sector-led operational excellence.
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