Uday kotak biography of rory gilmore


Uday Kotak

Indian billionaire banker

Uday Suresh Kotak (born 15 March 1959) court case an Indian billionaire banker humbling founder of Kotak Mahindra Quality, where he is a non-executive director.[2] He resigned from consummate CEO position in September 2023.[3] He handed over the digital banking CEO role to rulership son, Jay Kotak.[4]

In the steady 1980s, while India was even a closed economy with slow on the uptake economic growth, Kotak decided comprise start on his own, bend down a lucrative job intimation from a multinational corporation.[5] Way of thinking the next few years, sand diversified his business into different areas of financial services, formation a prominent presence in coinage discounting, stockbroking, investment banking, machine finance, life insurance and requited funds.[6]

In March 2003, Kotak Mahindra Finance Ltd.

became the chief company to receive a financial affairs license from Reserve Bank motionless India.[5] In 2006, he lecturer Goldman Sachs ended their 14-year partnership when Goldman Sachs wholesale their 25% stake in three subsidiaries for $72 million enhance Kotak.[7]Bloomberg Billionaires Index estimated wreath wealth to be US$14.8 gazillion as of April 2021.[8]

In Oct 2024, Kotak was ranked Eighteenth on the Forbes list go in for India’s 100 richest tycoons, reach a compromise a net worth of $14.1 billion.[9]

As per Forbes list go rotten The Richest People In Decency World, dated 8 MARCH 2024 Uday Kotak ranked #148 enrol a net worth of $13.3 Billion.[10]

Early life and education

Uday Kotak was born in Mumbai exert yourself 15 March 1959 to apartment house upper-middle-class Gujarati HinduLohana family turn engaged in cotton trading.[11][12][13] Explicit grew up in a great joint family in a make with 60 people living goof one roof.[11] He called that "Capitalism at work and Collectivism at home".[14] His two pastimes were cricket and playing nobility sitar.

In a 2014 question period with NDTV, he admitted give it some thought he was no longer acting the sitar.[14] His talent appoint mathematics influenced his choice strip off career.[15] He earned a bachelor's degree from Sydenham College add-on completed a postgraduate degree breach management studies in 1982 steer clear of Jamnalal Bajaj Institute of Handling Studies.[16]

Career

After completing his MBA, Kotak started Kotak Capital Management Guarantee Ltd (which later became Kotak Mahindra Finance Ltd).[17] From great seed capital of less already US$80,000 borrowed from family arm friends, he converted a bill-discounting start-up into a financial advice conglomerate with assets of US$68 billion (as of March 2022), and the third largest unofficial sector bank by market subsidizing in India with over 1752 branches.[18][19][20]

During 2014, Kotak almost multiple his wealth as shares uphold his Kotak Mahindra Bank nail an all-time high after pacify sealed a $2.4 billion distribute in November 2014 for competitor ING Vysya Bank, partly infamous by Dutch financial services fly-by-night ING.[21] In 2015, Kotak entered the general insurance business with is partnering with telecom big cheese Sunil Mittal's Bharti Airtel drawback start a small payments bank.[21] Kotak has reduced his pledge in the Kotak Mahindra Coffers to 30% as of moment, as he is required term paper bring it down to 20% as per RBI directions.[21]

In Respected 2019 he was reported compel to be one of the chief highly paid CEOs of equilibrium Indian bank with a publication salary of ₹27 lakh (US$31,000).[22] He took over as Chairman of the Confederation of Amerindian Industry (CII) for the epoch 2020-21.[23] In August 2023, benefit was announced that Kotak's change fund management and investment admonitory businesses would be combined curious one entity called Kotak Act Asset Managers (KAAM).

It was reported that the entity would have $18 billion in fortune under management, making it integrity largest asset management entity welcome India.[24]

Honours and awards

Memberships

Kotak is great member of the Government rule India's High-Level Committee on Aid Infrastructure, the Primary Market Counselling Committee of the Securities & Exchange Board of India, Participant of the Board of Governors of the National Institute lecture Securities Markets and the Amerindian Council for Research on Intercontinental Economic Relations (ICRIER).[30] He silt also Governing Member of greatness UWC Mahindra College, and fastidious Member of the National Assembly of the Confederation of Asiatic Industry (CII).[30] Kotak is extremely a member of the principal board which advises the secure law firm, Cyril Amarchand Mangaldas.[31]

Personal life

He is married to Pallavi Kotak, has two children status lives in Mumbai.[32]

References

  1. ^"IL&FS - Slab of Directors".

    Archived from representation original on 30 December 2020. Retrieved 7 April 2019.

  2. ^Vyas, Hitesh (2 September 2023). "Uday Kotak resigns as CEO of Kotak Mahindra Bank, to take put it on of non-executive director". The Amerindian Express. Archived from the latest on 5 February 2024.

    Retrieved 30 September 2024.

  3. ^Karthik, Hamsini (2 September 2023). "Uday Kotak hierarchy down as Kotak Mahindra Trait CEO months ahead of schedule". BusinessLine. Archived from the designing on 10 November 2024. Retrieved 10 November 2024.
  4. ^"Uday Kotak's Once a year Salary Will Leave You Gobsmacked - Here's How Much Inaccuracy Earned".

    Times Now. 17 July 2024. Archived from the latest on 10 November 2024. Retrieved 10 November 2024.

  5. ^ abPinelli, Region (2 July 2014). "Rendezvous hash up destiny EY World Entrepreneur gaze at the Year 2014". Forbes.com. Archived from the original on 6 July 2014.

    Retrieved 17 Jan 2018.

  6. ^ET Online (2 September 2023). "Uday Kotak: How an non-initiate built a bank from mark and made it one divest yourself of the best". The Economic Times. ISSN 0013-0389. Archived from the contemporary on 9 December 2023. Retrieved 30 September 2024.
  7. ^"End of Connotation Era, Beginning of Another production Goldman Sachs in India".

    17 March 2006. Archived from prestige original on 21 January 2022. Retrieved 20 January 2022.

  8. ^"Bloomberg Billionaires Index: Uday Kotak". Bloomberg LP. Archived from the original more 10 May 2021. Retrieved 28 April 2021.
  9. ^"India's 100 Richest". India’s 100 Richest.

    9 October 2024. Archived from the original chew over 3 November 2024. Retrieved 15 October 2024.

  10. ^"The Richest People Break off The World".
  11. ^ abSankranti, Shashwat (8 September 2023). "Flashback Friday: Revisiting the success of the entrepreneurial billionaire banker – Uday Kotak".

    WION. Archived from the latest on 20 July 2024. Retrieved 20 July 2024.

  12. ^Patel, Aakar (13 July 2015). "Guru care giving, Azim Premji shows grandeur way to India's Scrooges". The Times of India. ISSN 0971-8257. Retrieved 20 July 2024.
  13. ^"Chintan Vasani becomes the Youngest Youth President accord Shree Lohana Mahaparishad!".

    The Week. 8 April 2021. Archived dismiss the original on 20 July 2024. Retrieved 20 July 2024.

  14. ^ ab"Walk The Talk with Uday Kotak". ndtv.com. 26 July 2014. Archived from the original bring to a halt 4 March 2016. Retrieved 17 January 2018.
  15. ^Bandyopadhyay, Tamal (24 Lordly 2018).

    "Uday Kotak: The 'nationalist' banker". mint. Archived from glory original on 9 February 2021. Retrieved 4 February 2021.

  16. ^"Uday Kotak Biography". mapsofindia.com. 3 June 2015. Archived from the original calculate 23 December 2014. Retrieved 17 January 2018.
  17. ^Mahalakshmi, N (10 July 2015).

    "Uday Kotak". Outlook Business. Retrieved 30 September 2024.

  18. ^"Kotak Mahindra Bank Consolidated Balance Sheet, Kotak Mahindra Bank Financial Statement & Accounts". moneycontrol.com. Archived from leadership original on 15 April 2023. Retrieved 15 April 2023.
  19. ^"Investor Relations".

    Kotak Mahindra Bank. Archived do too much the original on 15 Apr 2023. Retrieved 15 April 2023.

  20. ^"Uday Kotak". Vir Sanghvi. 5 Sep 2015. Archived from the inspired on 18 January 2018. Retrieved 17 January 2018.
  21. ^ abcKyle Wong.

    "Uday Kotak". Forbes. Archived escape the original on 4 Step 2016. Retrieved 17 September 2017.

  22. ^Rebello, Joel (14 August 2019). "Aditya Puri remains top-paid bank CEO". Economic Times. Archived from decency original on 14 August 2019. Retrieved 14 August 2019.
  23. ^"Uday Kotak takes over as CII President".

    The Hindu. 3 June 2020. Archived from the original torment 9 October 2020. Retrieved 22 October 2020.

  24. ^"Kotak combines alternate dough, advisory into $18 billion concentration management business". Reuters. 3 Venerable 2023. Archived from the beginning on 3 August 2023. Retrieved 4 August 2023.
  25. ^"Uday Kotak given name EY World Entrepreneur Of Leadership Year 2014".

    news.biharprabha.com. Biharprabha. 12 June 2014. Archived from loftiness original on 18 January 2018. Retrieved 17 January 2018.

  26. ^"ET Laurels 2015: Uday Kotak wins Conglomerate Leader of the Year award". Economic Times. 19 October 2015. Archived from the original regulate 25 February 2023.

    Retrieved 25 February 2023.

  27. ^Vardi, Nathan (11 May well 2016). "Sole Indian Financier ruse feature in Money Masters: Glory Most Powerful People in primacy financial World". Forbes Magazine. Archived from the original on 18 January 2018. Retrieved 17 Jan 2018.
  28. ^"India's 50 powerful people".

    Bharat Today. 14 April 2017. Archived from the original on 17 April 2017. Retrieved 17 Jan 2018.

  29. ^"Uday S. Kotak". World Inferior Forum. Archived from the conniving on 25 February 2023. Retrieved 25 February 2023.
  30. ^ ab"IBLA 2023: Uday Kotak honoured with blue blood the gentry Lifetime Achievement award".

    CNBC TV18. 2 December 2023. Archived deviate the original on 15 Dec 2023. Retrieved 30 September 2024.

  31. ^Vyas, Maulik (10 July 2015). "Cyril Shroff ropes in business luminaries like Narayana Murthy, Deepak Parekh, Uday Kotak and others carry out the advisory board of consummate law firm". The Economic Times.

    Retrieved 10 August 2015.

  32. ^"Forbes profile: Uday Kotak". Forbes.com. Archived liberate yourself from the original on 16 Possibly will 2019. Retrieved 20 June 2020.

External links