Leaders in the field of finance
Just like Chicago O'Hare has the busiest airport in the world, in terms of passenger numbers and flights in/out, London Heathrow is the busiest in terms of "international" flights. While the USA has the biggest domestic financial market in the world, London is firmly the international financial centre. Don't take my word for it, here's a comment from a former Governor of the Bank of England. "It (London) accounts for a fifth of all international cross-border lending, for example; for a third of global turnover in foreign exchange and OTC derivatives, and as much as two-thirds of issuance and secondary trading in Eurobonds, or of global turnover in international equities, with more foreign firms listed on the LSE than on any other exchange. And London has a near-monopoly in exchange-traded short-term euro interest rate derivatives."
Consequently, anybody who aspires to being a leader of an international financial institution, has to be either based in London or should have a serious stint in London. Indians or British Indians have a serious and excellent reputation in the City of London.
Amongst many others, we concentrate on two personalities of Indian extraction, who have been in the news in the Investment Banking Arena in the City of London and are my picks as faces of the future in the world of finance.
Head, Global Markets
member of Deutsche Bank's group executive committee
Born in 1963 in India, he obtained an Economics degree from Delhi University, an MBA from University of Massachusetts and then joined Merrill Lynch, another international top tier investment bank in 1988, where he turned their global hedge fund group to a success, before he was 30.
Deutsche Bank wanted somebody who was vibrant and innovative Anshu caught their eyes and they never looked back. From a German oriented bank, Anshu helped Deutsche Bank become a global institution, earning more than 80 per cent of its revenues outside Germany and leading or rather placed at the top of various rankings in the investment banking world.
42 years of age, a world already conquered, Anshu Jain is not resting on his laurels. Deutsche Bank is facing rapid business and organisational challenges in 2005 and Anshu is the man in the hot seat. Many a buck stops at his desk, but from what I have read of him, he won't part with much change out of the buck or pass any of the change upstairs.
While he has won many international awards, his Indian roots are not far away. Anshu Jain signed Deutsche Bank up to be the first MCC Lord's Partner in 2004 and by all accounts, he is delighted with this. You can take an Indian out of India, but you can't take cricket out of him.
Definitely a man to look out for in 2005.