Innovative, risk-taking and a number cruncher, Karan Bhagat epitomises the quintessential Marwari entrepreneur, whose story could very well be a case study of a successful Marwari entrepreneur. Meet the wealth management expert and founder of IIFL Wealth Management Ltd, who has scripted the firm’s skyrocketing success as its MD and CEO.
AS A MAN WHO HAS HAD FAILURE AND ADVERSE circumstances as his starting points, life has moulded Karan Bhagat to be unafraid and undaunted in business. Originally from Nawalgarh in Rajasthan, Bhagat hails from a family based in Kolkata that was into the fabrication business. However, with his father closing shop some 20 years ago, it was up to the next generation to take the family’s business legacy forward. A Marwari to the core, Karan Bhagat too forayed into the world of enterprise soon after and launched his own travel agency at the age of 17. However, the venture failed, which had him turn his focus to academics instead and proceed to IIM, Bangalore (now Bengaluru) for his MBA.
MBA done, Bhagat got an offer from Cluster Consulting, a strategic consulting firm in Barcelona in 2001, which disappointingly was revoked in the wake of the World Trade Centre tragedy. Rather than brood, he bided his time teaching English and Maths to MBA aspirants, until a placement in Kotak Mahindra Bank took him to Delhi the same year. Six years on, in 2007, a promotion brought him to Mumbai. “I was made the head of the bank’s wealth management practice for Mumbai,” says Bhagat. “The seeds of my dream of turning an entrepreneur were sown at that time.”.
How it all began
This story is from the November-December 2017 edition of MARWAR India.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the November-December 2017 edition of MARWAR India.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Sign In
The Rolex Renaissance
To mark the International Women's Day, a shout out to women watch aficionados to embark on a journey of alluring Rolex wristwatches and consider adding some of them, at least, to your existing collection.
Style it up with Lights
Brighten up your decor with intriguing lights that give a unique character to your room and maximise your space. Browse through this luxurious selection of immersive lights for an unparalleled experience.
THE MODERN MINIMALIST
An immersive experience of the updated Range Rover Velar changes little of its outer persona while cleaning up the interior, yet somehow improving on its already-regal ride quality.
Capturing The Essence of Freedom
Swadheen, a retrospective exhibition held at Kamalnayan Bajaj Art Gallery, Mumbai, celebrated the life and times of Jankidevi Bajaj, a proponent of Gandhian values and staunch supporter of Khadi.
A Soul-Stirring Experience
The 15th edition of Sacred Spirit Festival held in the royal Mehrangarh Fort in Jodhpur showcases the spiritual significance of music that transcends communities, cultures and creeds.
Revisiting Roots
Bharati Morarka, Chairperson, Morarka Foundation, has been promoting the legacy of her late industrialist and politician husband Kamal Morarka at considerable cost and effort.
The Flying Carpet
Hands Carpets puts the spotlight on the 143-yearold legacy and the ancient heritage of hand knotted carpets. MARWAR speaks to Ravi Patodia, Chairperson, Patodia Exports, and his sons Apurva Patodia and Pranay Patodia, Managing Directors, on the journey and the aesthetic allure and craftsmanship of one of the leading handcrafted carpet brands in the world.
THE WRITE CHOICE
The life of Deepak Jalan, Managing Director, Linc Limited, has been a journey of learning, adapting, and growing amidst the landscapes that shaped him.
A Legacy of Timeless Elegance
India's leading jewellery brand, Navrathan Jewellers, is renowned for its legacy and commitment to heritage and excellence.
Wonder Women
Celebrating International Women's Day with empowering stories of women who stepped out of their comfort zones to break some stereotypes and, in the bargain, are inspiring us for the better.