EMpower – the Emerging Markets Foundation, a global non-profit organisation dedicated to empowering marginalised young people in developing countries, has announced the appointment of Dr. Nisha Dhawan as President and Chief Executive Officer. EMpower currently supports over 150 grantee partner organisations and has deployed more than $60 million in grants to date.
Dr. Dhawan succeeds Cynthia Steele, who has led EMpower since 2019 and, following more than two decades with the organisation, will continue to support EMpower through 2026 as a Strategic Adviser.
Dr. Dhawan brings nearly 14 years of experience at EMpower, having held senior leadership roles across programmes and strategy. Her appointment marks a significant milestone for the organisation, as she becomes EMpower’s first President and CEO to be based outside New York, reflecting a strategic shift towards local leadership to maximise impact.
Based in Delhi, Dr. Dhawan’s appointment builds on EMpower’s long-standing commitment to localisation and community-led development. Under Cynthia Steele’s leadership, EMpower moved all programme leadership into EMpower’s target markets, enabling closer partnership with the grassroots organisations that the foundation supports. Dr. Dhawan’s appointment signals an extension of that ethos to EMpower’s executive leadership.
Dr. Nisha Dhawan, President and CEO of EMpower said: “From the beginning, we have focused on putting the right resources into the hands of local organisations with the proximity and insight to maximise their impact. Over the past twenty-five years, EMpower has awarded more than $60 million in grants to nearly 400 partner organisations across fifteen countries. As we continue to deepen our localisation and strengthen our impact, I want to begin our next chapter by doubling down on our commitment to listening, working alongside our grantee partners, and the women, men and young people they support, to co-create EMpower’s next era.”
The transition comes at a time of heightened pressure on the international development sector and aid budgets, spotlighting the need for locally driven, long-term approaches. EMpower has, since the beginning, focused on patient, flexible funding models and partnership-based philanthropy. Dr. Dhawan added: “Against this backdrop, the need of the hour is long-term, flexible, and local – and that is part of our DNA.”
Jeremy Llewelyn, Former Chair of Global Boards at EMpower, said: “In today’s challenging global context – with development aid under strain and the need for locally driven solutions more evident than ever – the investment community recognises the value of leaders like Dr. Dhawan. Her appointment is a testament to EMpower’s commitment to elevating leadership that is grounded in context and connection.”
Aleem Jivraj, Chair of Global Boards at EMpower, and Chief Operating Officer, Global Markets at Nomura added: “I’m excited to work closely with Nisha as we enter EMpower’s next chapter. She brings strategic clarity, analytical rigour and deep compassion to everything she does, and is an exceptional ambassador for the organisation. With all that we have learned, and everything our partners and young people continue to teach us, I am confident we are well-positioned to make an even bigger difference going forward.”
Dr. Dhawan began her career in financial services in London, working at Deutsche Bank and Barclays with financial regulators and exchanges, before pivoting to international development. She holds advanced degrees focused on gender and development, including a PhD from IIT Delhi, where her research explored non-traditional livelihoods and gender equity.
Since joining EMpower in 2012, she has worked closely with local organisations across Asia and other emerging markets, helping to shape programme strategy and strengthen long-term partnerships.
Reflecting on the transition, Cynthia Steele, Strategic Adviser and former CEO and President of EMpower said: “It has been an immense honour to lead this amazing organisation, alongside incredible human beings who are undeterred by the volatility we see all around us, and who move forward with purpose. As I leave this role, with heart full and ever hopeful, I know the organisation is in the best of hands with Nisha. Together with our exceptional team and Directors, and with friends, colleagues and supporters, EMpower will continue to make a better future for young people. And I will be its cheerleader and supporter forevermore.”
EMpower was founded in 2000 by investment and finance professionals who saw the social inequities in the emerging markets where they invested. EMpower was established to address these disparities and create lasting change. The foundation is supported by its global board of directors, many of whom hold senior positions within the investment industry.