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Richest Asian banker plans family office but spurns crypto

Uday Kotak prefers to use his spare cash to invest in assets such as private equity, stocks and property

Uday Kotak, MD of Kotak Mahindra Bank in Mumbai. The Mumbai-based banker's US$10.3 billion fortune makes him the eighth-richest person in India and the wealthiest banker in Asia.


THE FAMILY of Uday Kotak, billionaire managing director of Kotak Mahindra Bank Ltd, is setting up an office to invest in assets including private equity, stocks and real estate worldwide.

"The funds will be deployed in asset classes other than debt and cryptocurrencies,"...