Several businessmen in India started their careers in family business before founding their own companies. One such person who represents the fourth generation of a family of prominent stock brokers is Hemendra Kothari. The 77-year-old started his career with family firm DS Purbhoodas & Co before founding financial services firm DSP Financial Consultants in 1975. He is currently the chairman of the DSP Investment Managers which has USD 15 billion in assets under management. He founded the firm in 2008 in partnership with BlackRock but bought out BlackRock's stake 10 years later.
Hemendra Kothari is a veteran investment banker. His daughter Aditi Kothari Desai helps him run the company. She is vice president and head of sales at DSP. Hemendra Kothari is the great-grandson of Purbhoodas Jeevandas Kothari, who was one of the founders of the Bombay Stock Exchange (BSE). The market capitalization of BSE listed companies is Rs 3,69,49,666.38 as of January 18. According to Forbes, he has a real-time net worth of Rs 11630 crore as of January 18.
In 1995, Kothari entered a partnership with US giant Merrill Lynch. The name was then changed to DSP Merrill Lynch Limited. Kothari served as the chairman of the company till March 31, 2009. He sold his 57% stake in tranches between 2005 and 2009. He founded DSP Financial Consultants Ltd in 1975 which has evolved into a full fledged financial services organisation with offices in all the major metros in the country.
Kothari is also a member of several leading representative trade forums including Confederation of Indian Industry (CII) and Federation of Indian Chambers of Commerce and Industry (FICCI). He founded the firm in 2008 in partnership with BlackRock but bought out BlackRock's stake 10 years later. He holds a bachelor's degree in Arts/Economics from Mumbai University. He is a wildlife enthusiast and has founded the Wildlife Conservation Trust.
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