M drive gives us a huge kick
Manisha Girotra, CEO and country head of UBS, can remember the last time she had taken a long leave. But in a company seeped in the tradition of work life balance, she can get away with that. Or, perhaps, she can. We were initially fake louis bag supposed to meet the poster woman of Indian investment banking at the Swiss bank office in Bandra Kurla Complex, the upcoming business destination in Mumbai. But we got Fake Louis Vuitton Replica Bags a last minute request for a change in venue to The Four Season Hotel at Worli. Little did we know that Girotra had been restricted from entering her own office. But, of course, a workaholic finds a way around such minor problems. Strange it may sound, but some multinational banks have rules where employees, including the CEO, have to stay away from the office for a mandatory prescribed period every year. During that period, somebody else would manage the portfolio cheap louis vuitton bags from china uk to drive home the message that the firm is bigger than employees. So Girotra did the next best possible thing meet us outside. “Every employee has to mandatorily stay away from the desk for 14 days. I haven taken a break for the last three years; have been working at a stretch and this (not going to office) is in a way good,” she says, but quickly adds that this doesn matter in today digitized world. “Lot of work can be done on the BlackBerry.” Perhaps, it would put it in perspective if we were to mention that the meeting was on the Christmas eve when investment bankers are usually on leave. Typically, the Noel New Year season is also a lean period for mergers acquisitions (M But it has been different this year. A slew of deals, including JSW Steel purchase of a majority stake in Ispat Industries, Reckitt Benckiser takeover of Paras and Tata Chemicals acquisition of UK British Salt, were announced during the last month of 2010. Some others, involving the sale of Patni Computers and Australia Riversdale Mining, saw bankers burn the midnight oil. Girotra team was assisting a bidder to take over Patni, while UBS Australian arm is advising Riversdale. “It has been a busy deal season,” says Girotra, sipping tea. Draped in a flowing sea green saree with a silver border, 41 year old Girotra is a couturier delight and can effortlessly switch from the boardroom to the ballroom. It therefore, not surprising that she has two favourites Louis Vuitton and Ralph Lauren when it comes to brands. Coming from a family of bankers her father was a former top honcho with UCO Bank it was perhaps natural for the young Girotra to join the banking industry. A post graduate from the Delhi School of Economics, she started her career with ANZ Grindlays in 1992, and a year later moved to BZW, the investment banking arm of Barclays. In 1996, Girotra joined the Swiss bank and has since been with it. “We (her family) are a non diversified risky portfolio,” laughs the UBS India head her brother, sister in law and husband are all bankers. Her husband, Sanjay Agarwal, whom she met at Grindlays aaa replica designer handbags , now heads corporate finance at Deutsche Bank. While both compete for deals, Girotra says “now we are past that stage”. She recalls during the BJP led government disinvestment programme, the divestment secretary had quipped that if one aaa replica designer handbags deal goes to Deutsche, the other should go to UBS, otherwise, there will be a fight at home. Another incident she remembers happened during the Infosys Technologies ADS listing in 2005. UBS and Deutsche, along with other banks, were involved in the transaction and it was only after the pricing of the issue was done that the IT company chairman came to know that they were husband and wife. One thing she likes about deal making is that of being a “transformation facilitator” in the corporate world. And it isn easy. “For every 20 ideas, only one may click,” she says. And closing a deal could take months. Indian companies are transforming into MNCs and are snapping up assets across the globe, changing their market position rapidly. Hindalco acquired Canada Novelis for $6 billion, becoming the world largest aluminium rolling company. Bharti Airtel became the fifth largest telco in the world after its $10 billion Zain deal. Girotra recalls replica louis vuitton bags from china that in the not so distant past, Indian companies were not even considered in the global M scene. “Today, my colleagues from the sell side first call the Indian and Chinese teams to check about potential candidates Designer Louis Vuitton Replica Handbags interested in a transaction cheap louis vuitton bags from china uk ,” she says, adding that “this gives us a huge kick”. Dealogic ranking table reveals that India climbed from 16th to 12th position in global M transactions in 2010. Predicting the trend for 2011, Girotra says cross border deals in the energy and the mining sectors high quality designer replica handbags would be most visible while inbound deals would largely be around healthcare. For the record, UBS was No. 7 among takeover advisers in India in 2010. Girotra has been with the Swiss bank for 14 years and so we ask her if she has ever thought of leaving the company. To put the question in high quality replica handbags china perspective, it important to mention that the number of I bankers jumping jobs has been higher than the deals. “UBS is a great employer. I am married with a kid and this (set up) works out good for me,” says Girotra, who takes time to attend her eight year old daughter Tara parent teacher association meetings every now and then. Wealth management is one of the pillars of UBS business model. It is also this business that drew the ire of regulators globally over tax evasion by its customers. In India, the RBI delayed its banking licence over alleged money laundering racket, holding up its wealth management plans. The apex bank also didn approve the UBS bid to acquire Standard Chartered Bank mutual funds business. Finally in 2008, the UBS got the green signal Perfect Quality Louis Vuitton Replica to open a branch in India, entering the corporate banking space. So how come UBS ends up on the wrong side of regulators? Girotra laughs. “We have strong checks replica designer handbags and balances,” she says, adding that she was sure it would not happen under her leadership. In fact, 2011 will be the year when UBS pumps iron. It is gearing up to offer wealth management services. It also plans to enter the mutual fund business in India, but Girotra says it would set up its own venture as against looking at acquisitions. Besides www.dolabuy.su , the retail banking operations of the bank would also begin with a lone branch at Bandra Kurla in the next couple of months. About 60 people have already been hired and more are expected over the course of the year. Going by her appearance, one would think that she is a fitness fanatic but her answer surprises us. “I go to the gym once a year. I like cycling, an interest I picked up from my Shimla days. Every 5th of January, I make a resolution to do these things but that is the only day I do it,” she smiles. Quiz the ace banker on where she sees herself at the end of the decade and she breaks into a big smile. She wants to sign out of targets and deadlines in the next seven or eight years. “I am looking forward to a January 28 where there are no targets.” Unlike several dealmakers who have launched their own private equity funds from the millions of dollars they raked in as bonuses, Girotra doesn have any such ambition. “I don have so much money,” says the UBS India head, who is known for fake designer bags her exotic saree collection. But education is something that really excites Girotra. “Before my grey cells stop working, I would want to do a PhD.” Besides, teaching is definitely something that she wants to pursue after retirement.
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