The Pedigree Of Money

Continuing the legacy, these firms have been growing wealth for generations.

- M.Rajendran, Yagnesh Kansara and Aparajita Gupta

Growing wealth is an art. All of us claim to know it, but to grow others’ money while they are sleeping, needs passion first, business later. Many do this for living, but few do it so well that they inspire their family to join the same trade. Fundamentals get passed on to the next generation, but not innovation and ideation. They grow with each generation to keep the business running and flourishing.

These family-run financial businesses have not only succeeded in fortifying citadels of finance but eventually, have helped shape the Indian capital markets. The pleasure of growing wealth is infectious among these families. Eventually, this passion was passed on to the next generation, not as an obvious choice but as an option.

“DSP, started by my great grandfather Purbhoodas Jeevandas Kothari, is more than a 152-year-old company. They must have started doing business under the banyan tree,” said Hemendra Kothari, NonExecutive Chairman, DSP.

Since the time Kothari entered the family business in 1969, he has seen many ups and downs in this sector and faced several challenges.

The challenges: to get employees join the market, to attract the right talent, and compete with existing players. “I had to compete with established players like Grindlays Bank. They had started the first merchant banking office in India and did most of the underwriting themselves. But when I did underwriting, I used to sub underwrite my exposure, as I didn’t want to take risks,” said Kothari.