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
Mumbai
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," Venkat Subramanian, who will manage the family office, said in an interview in Mumbai last week. "We will also stay clear of any investment opportunities that will bring us in direct competition with the bank."
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Banking & Finance
Great Eastern shares jump 39% as OCBC mounts S$1.4 billion privatisation bid at S$25.60 per share
Manulife profit beats on growth in Asia, wealth management
Hot stock: UOI surges to over 6-month high amid heavy trading
OCBC’s Q1 profit up 5% to S$1.98 billion; CEO confident about 2024
Europe’s rush for rate cuts shifts global market power away from US
A$90 billion Australia pension reviews investments as Israel-linked firms face pressure