Suits & Sayings: High-profile exit at this PE firm | Economic Times

ET's weekly roundup of the wackiest whispers and murmurs in corporate corridors & policy parlours.No Looking BackHe moved to London a while back, but we recently heard this maverick, who rose like a phoenix in real estate and financial services, has decided not to come back to India. That means his personal assets are up for grabs, including a sizeable land parcel in Alibaug and two posh apartments on tony Altamount Road, home to the rich and the mighty. Once upon a time, this poster boy could do no wrong but alas, his dreams have come crashing down even after he exited a large part of his business empire. Hope London will be less taxing.Please Welcome… 2020 was an incredible year for the franchise, blowing the competition to smithereens in the league tables, but it ended on a sad note when Morgan Stanley lost one of its finest in Aisha de Sequeira, one of the most respected investment bankers in the country, late last year. But we hear it’s chosen two of its oldest lieutenants to carry on her legacy and lead operations in India — Kamal Yadav and Sachin Wagle will be co-heads. Far better than parachuting in some expat to come and fill the former leader’s shoes.Key Man Factor Even if this homegrown private equity shop set up by former bankers has seen a steady exodus of its middle layer, the core team has always been steadfast. No wonder they have always been super successful in raising funds despite limited exits from earlier bets. Naturally, we were stumped when we heard the fourth most powerful man in the firm, also its general counsel and partner, is planning to move on in pursuit of “something different.” That would be a body blow for sure, especially when exits have finally begun. A New Toast Throughout the lockdown, we have been reporting about corporate suits rediscovering life and love but by 2018, former Standard Chartered banker for 16 years, Kasturi Banerjee, knew her life was ready for a new high. This weekend, her labour of love, a posh rum called Makazai — which means “I want” in Konkani — hit the sunny state of Goa in both dark and white variants. What caught our attention was the Olive Ridley turtle as the brand’s mascot — a nice, sensitive touch. We have already seen the gin and beer revolution sweep the country, with a whole new bunch of entrepreneurs leading the charge. For a country that has literally grown up on Old Monk rum, we surely won’t mind some new options, would we? Rescue Plan American asset manager Aegis may figure in the consortium of investors that has submitted an expression of interest to take over Punjab & Maharashtra Cooperative (PMC) Bank. This group, which includes multiple overseas investors, has been put together by businessman Surinder Mohan Arora. His resolution plan for PMC Bank cites an infusion of Rs 5,000 crore. Interestingly, the 65-year-old Arora, who had contested the 2019 Lok Sabha polls (and lost), was a complainant in the Maharashtra State Cooperative Bank case, which came into the spotlight in 2019 when the Enforcement Directorate named NCP chief Sharad Pawar in a probe.