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Uday Kotak information


Uday Suresh Kotak
Kotak in 2016
Born (1959-03-15) 15 March 1959 (age 65)
NationalityIndian
EducationUniversity of Mumbai
Occupations
  • Founder, former MD & CEO of Kotak Mahindra Bank, currently non-executive director of Kotak Mahindra Bank
  • Chairman of IL&FS[1]
SpousePallavi Kotak
Children2

Uday Suresh Kotak (born 15 March 1959) is an Indian banker and Founder of Kotak Mahindra Bank, where he is a non-executive director.

In the early 1980s, while India was still a closed economy and economic growth was muted, Kotak decided to start on his own, refusing a lucrative job option from a multinational.[2] Over the next few years, he diversified his business into various areas of financial services, establishing a prominent presence in bills discounting, stockbroking, investment banking, car finance, life insurance and mutual funds. On 22 March 2003, Kotak Mahindra Finance Ltd. became the first company in India’s corporate history to receive a banking license from Reserve Bank of India.[2]

Bloomberg Billionaires Index estimated his wealth to be US$14.8 billion as of April 2021.[3] In 2006 he and Goldman Sachs ended their 14-year partnership when Goldman Sachs sold their 25% stake in two subsidiaries for $72 million to Mr. Kotak.[4]

  1. ^ "IL&FS - Board of Directors".
  2. ^ a b Pinelli, Maria (2 July 2014). "Rendezvous with destiny EY World Entrepreneur of the Year 2014". Forbes.com. Archived from the original on 6 July 2014. Retrieved 17 January 2018.
  3. ^ "Bloomberg Billionaires Index: Uday Kotak". Bloomberg LP. Retrieved 28 April 2021.
  4. ^ "End of One Era, Beginning of Another for Goldman Sachs in India".

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