Goldman Sachs, India CEO
The CEO of Goldman Sachs India L. Brooks Entwistle visited the campus yesterday. Both, the topic of his talk and his approach were unique.
The topic was "Goldman Sachs - six months in India". He talked about his apprehensions before coming to India, and his activities and concerns in the last six months. Rather, than making it a recount of what he did, he prompted us to think through the process with him. He asked us what would we consider under the circumstances, what actions would we take, and why.
He divided the talk into 3 parts:
- Before coming to India
- Immediately after coming to India, and the breakup of the JV between GS and Kotak Mahindra
- After breakup till now
- Future of GS in India? and GS' plans of investment in India?
- His own knowledge of the market.
- His comfort in dealing with the Indian culture and way of working?
- Softer issues, such as his family's comfort level regarding the move?
Immediately after coming to India
Both GS' and Kotak' top management knew about the end of the JV between the two. However most other employees did not know about it. After coming to India his key concerns were:
- Legal and Regulatory Issues to be tackled
- Setting up an office and taking up residence to convey that the decision to come to India was not in passing, and that he had come for good
- Meetings with all the big shots of the financial world, i.e. top bosses of SEBI, BSE and NSE, to convey GS' intentions of setting up base in India
- Ensure that despite of end of JV, the relations with Kotak remained cordial. GS did so by ensuring that both parties functioned in distinct segments of the market.
- Start process of obtaining necessary licenses to start functioning
Thereafter
- Prioritize the areas which GS planned to enter
- Focus on building the leadership team, by bringing in people from GS worldwide and also by hiring local people
From a generic perspective the talk can be used to create an outline of things to be done and considered to setup an office in another country.
posted by Obelixous @ 9/29/2006 11:02:00 PM
2 comments
2 Comments:
very informative post. Thanks! ISB seems so tempting now. But somehow the duration keeps putting me off. I don't know how I can learn so much in one year. I will have 2 years work ex when I apply next year.
Z
One year duration has its share of benefits and drwawbacks. Think it through, each one of us has different priorities and needs, so should make our own decisions.
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