5th July 2013
Dear IndusIndian,
It is time to say “good bye” at IndusInd Bank to end my second innings on completion of a century (more than ten years from April 2003); the first one was a half-century (April 1994 to May 1999) being a member of the core start-up team of the Bank. Both the innings are entirely different in shape and style; first one was kind of Chris Gayle T20 stroke-play to establish the new Bank in the market place with a small balance sheet without track record. It was a very satisfying period when the Bank established a good brand (and firm foot-print) in financial markets in general and FX market in particular. IndusInd Bank was one of the leading “market maker” rubbing shoulders with the heavy weights in the FX & Money markets. The second innings was more challenging one like a test match; joined in April 2003 as Executive Vice President & Head of Treasury and International Division to ramp up operations, to increase productivity and enhance efficiency levels of the business unit. The add-on was setting up of Capital and Commodity Markets Division where the Bank emerged as one of the elite group as Bankers to major exchanges across equity, commodity and Currency markets and rolled out products to market participants across asset classes. Post merger of Ashok Leyland Finance with the Bank in 2004-2005, I was given additional responsibilities in October 2005 as Head of Wholesale Bank, merging the corporate and Institutional business with other responsibilities. It was a great experience in setting up various business units across clients and products with productivity and efficiency measures on each client/product facing feet-on-street sales force; each RM/PM was a portfolio by itself, measured against the NAV built from number of clients, number of product hooks and value of each client. The management of the then Balance Sheet with pressure on Capital and resultant adverse impact on productivity/efficiency parameters was a big challenge and a very tight-rope walk! It was more challenging and fruitful since the management change-over in 2007 when I was given the charge to scale up the business/revenues of Global Markets Group. It was highly satisfying stint building a strong team to ramp up business and revenues (from clients, trading and balance sheet management) with very low cost-revenue ratio, which I handed over charge in October 2011 to take up a new role as Head – ALCO and Economic & Market Research. The positive take-way during this period since November 2011 was the time and mind band-width I had to net work with external stake holders of the Bank through my research report MARKET PULSE. The time I spent in personal interactions with clients, Reserve Bank of India, press and media was indeed great personal satisfaction. All these achievements and satisfaction would not have been possible but for the great support that I got from my entire team and I will cherish these memories forever!
It is time now to part to explore challenging opportunities elsewhere during the last lap (and peak) of my professional career which began in 1981 with State Bank of India. The experience, expertise, skill sets, good-will, the brand and the network that I have built over three decades of presence in financial markets will be put to use in the domain of Banking/Finance/Investments/Financial Markets, which I will let you know in due course. Whatever path I may choose either full-time employment or otherwise, I sincerely solicit your best wishes, support and patronage in my new avatar. Please stay in touch and feel free to communicate with me for any knowledge based inputs that you may need on financial markets. With heavy-heart and lot of emotions, I take leave of you for now with best wishes and good luck to take IndusInd Bank to greater heights. I thank each one of you for all the support that I got during my stay with IndusInd Bank for over 15 years.
Best regards
Moses Harding
Twitter handle: mosesharding
Mobile: +919820334145
