 |
Uday Suresh Kotak | |
|---|---|
 Kotak in 2016 | |
| Born | 15 March 1959 Mumbai, India |
| Education | University of Mumbai |
| Occupations |
|
| Board member of | Kotak Mahindra Bank |
| Spouse | Pallavi Kotak |
| Children | 2 |
Uday Suresh Kotak (born 15 March 1959) is an Indian banker and founder of Kotak Mahindra Bank, where he is presently a non-executive director.[2] He resigned from his CEO position on September 2, 2023.[3] He handed over his legacy of digital banking to his son, Jay Kotak.[4]
In the early 1980s, while India was still a closed economy with slow economic growth, Kotak decided to start on his own, turning down a lucrative job offer from a multinational corporation.[5] 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.[6]
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.[5] 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 Kotak.[7] Bloomberg Billionaires Index estimated his wealth to be US$14.8 billion as of April 2021.[8]
In October 2024, Kotak was ranked 18th on the Forbes list of India’s 100 richest tycoons, with a net worth of $14.1 billion.[9]
- ^ "IL&FS - Board of Directors".
- ^ Vyas, Hitesh (2 September 2023). "Uday Kotak resigns as CEO of Kotak Mahindra Bank, to take role of non-executive director". The Indian Express. Retrieved 30 September 2024.
- ^ Karthik, Hamsini (2 September 2023). "Uday Kotak steps down as Kotak Mahindra Bank CEO months ahead of schedule". BusinessLine. Retrieved 10 November 2024.
- ^ "Uday Kotak's Annual Salary Will Leave You Stunned - Here's How Much He Earned". Times Now. 17 July 2024. Retrieved 10 November 2024.
- ^ 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.
- ^ ET Online (2 September 2023). "Uday Kotak: How an outsider built a bank from scratch and made it one of the best". The Economic Times. ISSN 0013-0389. Retrieved 30 September 2024.
- ^ "End of One Era, Beginning of Another for Goldman Sachs in India". 17 March 2006.
- ^ "Bloomberg Billionaires Index: Uday Kotak". Bloomberg LP. Retrieved 28 April 2021.
- ^ "India's 100 Richest". India’s 100 Richest. 9 October 2024.