Word: bhandarkar
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Dates: during 2000-2009
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...Corus agreed an $8 billion takeover bid by Tata Steel. If the deal goes through, it would be the largest-ever Indian acquisition of a foreign firm, and it would catapult Tata from the world's 56th largest steel producer to the fifth. "Nothing succeeds like success," says Sanjay Bhandarkar, managing director of N.M. Rothschild private bank in India. "All credit goes to Ratan Tata. He clearly has a vision and knows what he's doing." Tata is one of Asia's most influential businessmen. And perhaps more than any other company, Tata group exemplifies India's metamorphosis into...
...billion. And over the past six years Tata has been on a $1.9 billion acquisition spree that has netted Britain's Tetley Tea, South Korea's Daewoo Commercial Vehicles, Singapore's NatSteel and New York's The Pierre hotel, among 14 others. "Nothing succeeds like success," says Sanjay Bhandarkar, managing director of N.M. Rothschild in India. "All credit goes to Ratan Tata. He clearly has a vision and knows what he's doing...
...West was not an end in itself. Buying Tetley was simply a way to grow Tata Tea. "We look for the acquisition of companies that fill a product gap or have a strategic connection with what we do, wherever that company might be," says Tata. Says Rothschild's Bhandarkar: "Other Indian groups look at things opportunistically. Tata is the only one with an international strategy." If the group has a geographical tilt, it is towards the developing world. And that's based on a business approach that has not changed since its foundation...
...India does possess one indispensable asset, which has sustained its democracy and catapulted it to the cusp of global power: the ingenuity of its citizens. And nowhere is it in greater supply than in Bombay. "Things just happen here," says Sanjay Bhandarkar, managing director of investment bank Rothschild's India. "Because people have to make things work themselves." The rise of China has been the product of methodical state planning, but India's is all about private hustle, a trait that Americans can appreciate. Rakesh Jhunjhunwala, a billionaire trader in Bombay, says initiative represents Bombay's--and India's--advantage...
...subcontinent's New York City, Bombay is built not on tradition but on drive. "Pull anyone out of any part of India, and put them in Bombay," says Rothschild's Bhandarkar, "and he'll acquire that sense of purpose." India's great industrialists--the Tatas, the Ambanis, the Godrejs--all began in Bombay. The city's stock exchanges account for 92% of the country's total share turnover, and the nation's central bank and hundreds of brokerages and investors have set up their Indian headquarters there, including such global powerhouses as HSBC, JPMorgan Chase and Bank of America. Bombay...