Advocate Madhusoodanan R
Executive Adviser to Board of Global Money Exchange Company LLC, Oman
Advocate Madhusoodanan R stands as a compelling figure in the financial services sector, known for his leadership, intellect, and deep-rooted commitment to social causes. With an illustrious career spanning banking, executive management, and public engagement, he combines professional excellence with humanitarian values. A prolific writer, guest speaker, and strategic adviser, Mr. Madhusoodanan exemplifies how leadership can extend beyond boardrooms to touch lives and inspire communities. He is a prominent Indian columnist based in Oman, contributing insightful articles to leading English and Malayalam dailies.
Mr. Madhusoodanan began his academic journey at the Vadamon (Anchal), Government Upper Primary School. He went on to complete his graduation at St. John’s College, Anchal, and post-graduation at Fathima Matha National College, Kollam—both under the University of Kerala. He also completed an LLB from the famous BMS College of Law, Bengaluru. He holds a Post Graduate Diploma in Financial Advising (PGDFM) and certifications on derivatives. He is also a Certified Associate of the Indian Institute of Banking and Finance. His entry into the professional world began in 1985 with Oil Palm India Ltd. The following year, he transitioned to the Life Insurance Corporation of India (LIC) as an Assistant, and by 1987, he joined the State Bank of Travancore in its Konni Branch. The State Bank of Travancore was later merged with the State Bank of India.
For nearly three and a half decades, he served within the State Bank group ecosystem, contributing significantly to its branch operations, Treasury and wealth management before opting for Voluntary Retirement in 2021. He had a long stint in the Investment and Treasury operation of the State Bank of Travancore (SBT) in Mumbai, before moving to the Head Office of the Bank at Thiruvananthapuram as head of the M.D.’s Secretariat and Secretary to the Board of Directors. His deep expertise in banking and remittance services paved the way for his appointment as the Chief Executive Officer of Global Money Exchange Company LLC (GMEC), a company managed by the State Bank of India, where he served with distinction from 2016 to 2020 as the Chief Executive Officer, on deputation from SBI.
Under his leadership, GMEC, a premier remittance and foreign exchange company in Oman, solidified its market dominance. GMEC stands as a prominent financial services provider in Oman, specializing in remittances, currency exchange, and related services and the largest exchange company in the Sultanate. GMEC is managed by the State Bank of India (SBI), India’s largest commercial bank and a Fortune 500 company.
GMEC has forged alliances with several international financial institutions and money transfer operators to enhance its service offerings. In alignment with Oman’s Vision 2040 and the Central Bank of Oman’s digital initiatives, GMEC is prioritizing digital transformation. The Company has recently rolled out a Payment and remittance mobile application as part of the digital initiative. GMEC continues to serve the remittance and foreign currency needs of the expatriate community and the broader Omani populace. Recognized for its operational excellence, the company has been consistently awarded as the Best Exchange Company for five consecutive years. Post his CEO tenure, he continues to contribute to the company as Executive Adviser, providing strategic counsel.
Madhusoodanan’s tenure saw the expansion of GMEC’s offerings to include value-added services such as visa fee collection, telecom recharges, and contribution remittances to welfare funds. His foresight in implementing strong Business Continuity Management (BCM) policies has ensured service continuity even during natural disasters and global crises.
Beyond corporate achievements, Mr. Madhusoodanan is a respected guest speaker at Universities and Colleges and a regular special invitee at events hosted by the various Social Clubs in Oman. He contributes thought-provoking articles on finance and banking featured in leading English and Malayalam dailies in Oman. Madhusoodanan frequently addresses topics on personal finance, financial planning, and wealth management, and matters of interest to NRIs. The huge viewership of his interviews in “Pravasi Kattan Talks, a podcast, displays the effectiveness and usefulness of his talks. He critiques economic policies from an NRI perspective, highlighting areas where the Indian government could better support, particularly the blue-collar workers. His articles on de-dollarisation, impacts of reciprocal tariffs etc, were well received by the readers. A few of his articles were vetted by the London Stock Exchange Group (LSEG) and published by Reuters, the most credible news agency in the world.
A passionate reader and chess enthusiast, he stays abreast of global banking trends and innovations. He believes travelling can be a wonderful experience, exploring new places, immersing in different cultures, and creating lifelong memories. So far he has covered more than 35 countries of the world. Yet, what truly distinguishes him is his unwavering commitment to philanthropy. Each month, he contributes á percentage of his earnings to charitable causes, like helping poor and meritorious students, super senior citizens for medical and living assistance.
Mr. Madhusoodanan’s late father, V. Raveendran Pillai, was an agriculturist, and his late mother, Chellama Raveendran, was a homemaker. Mr. Madhusoodanan is married to Sini Somanath, a dedicated homemaker. The couple is blessed with two children. Son Karthik, who holds an MBA and works at Wipro. He is married to Rejini, a strategist with an MBA from IIM Bangalore. Daughter Keerthana is a postgraduate who currently serves as an Assistant Manager at Federal Bank.
Advocate Madhusoodanan R’s life story is a remarkable blend of professional excellence, visionary leadership, and heartfelt philanthropy. From humble beginnings to holding pivotal roles in one of the most dynamic financial environments in the Gulf, he continues to inspire with his integrity, knowledge, and service to society. His dual role as an Executive Advisor and a columnist indicates that he brings a wealth of knowledge in the areas of finance, economics, and governance, along with a sharp ability to communicate complex issues to a broader audience.
