The Visionary

In a career spanning nearly four decades, Uday Kotak, a firstgeneration entrepreneur, has not only created a bank of size but also built an institution, which offers a wide range of financial services, from asset management and insurance to securities

- ANAND ADHIKARI

HALFWAY UP THE Godrej BKC tower in Mumbai's financial capital, on the 10th floor, you can find Uday Suresh Kotak, 64, seeking new challenges instead of planning a holiday. Over nearly four decades, Kotak, as the Founder, MD & CEO of Kotak Mahindra Bank, built a financial services empire with assets worth ₹6.20 lakh crore. Today, Kotak is enjoying his new-found freedom at the helm of USK Capital, a family office, free from the highly regulated space of banking.

"I'm not over-engineering life," he says with a grin. He appears to be the sole occupant of the sprawling office, complete with paintings and a boardroom, though there are support staff around. The peaceful surroundings give him ample time to reflect.

Reflect, not on which investment offers the best returns for his family office, but on how he can do his bit to save the planet. "I believe planet earth is facing serious existential risks," he says. A business model is needed to save the planet, suggests Kotak, adding, "Sustainability could be a very interesting area."

Kotak, who stepped down as MD & CEO in September 2023, cites companies such as Amazon, Apple, Meta, Tesla, and Nvidia - which have all become global powerhouses within a few decades or just years of being created. "How did these companies come about? What is the secret sauce that India can learn from US corporations to achieve scale and size?" Kotak, who maintains a modest lifestyle, has several questions as he pads up for his second innings (He was a promising cricketer too).