The Outperformers 2019

The Prudent Banker

Amid slow growth and poor governance in financial services, Kotak Mahindra Bank continues to steer ahead with a clear growth strategy

It was May 1991. Salomon Brothers, the legendary Wall Street firm, found itself ensnared in a scandal where trader Paul Mozer had been submitting illegal bids for US Treasury Securities, attempting to corner the market by breaching the individual bidding limit. Warren Buffett, who had a $700 million investment in Salomon Brothers, stepped in to untangle the knots. The firm avoided bankruptcy and was, eventually, acquired by Travelers Group.