WHAT I LEARNT FROM MY COMPETITOR(25)
“Kotak's Focus on
High-integrity Research Helped it Build a Market-leading Offering“
Saurabh Mukherjea, CEO, Institutional equities, Ambit Capital
THE LESSON: Saurabh
Mukherjea says the two companies in Indian institutional broking that he has
tried to learn from are CLSA among the foreign brokerages and Kotak
Institutional Equities among the domestic ones.
“In the domestic broking
industry where the general trend is to focus on cost rather than the quality of
service, Kotak has shown that if you focus on high-integrity research and
provide a world-class offering over a long period of time, you can build a
market-leading offering.“ He adds that the fact Kotak tops the tables in
institutional equities shows that the perception multinational brokerages have
an advantage over their domestic counterparts is not true.
Talking of CLSA, he says it
is impressive that within 10 years of its founding in 1986, the Hong Kong-based
independent brokerage built a dominant presence across Asia without the balance
sheet support of a big bank. “That period when it was an independentlyowned
brokerage producing iconoclastic research and, with superb sales people, it was
an exciting 25 years. It's episodes like that you draw inspiration from when
you're trying to doing something similar.“
(G Seetharaman)
ETM27DEC15
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