Tata Capital to set up pvt investment banking biz in Singapore

Singapore, March 26, 2012 - Tata Capital today said it will set up a private investment banking business in Singapore in two years.

ÒLicencing process is to be started soon and the business will be in operation in two years,Ó Tata Capital Managing Director and Chief Executive Praveen P Kadle said here.

He said the broad plan would be to establish a strong private equity and fund management as well as wealth management and securities brokerages.

ÒThis will be our first private banking. In two years, this will surely happen,Ó Kadle said after signing a memorandum of understanding (MoU) with Singapore's Economic Development Board (EDB) to help Indian companies to internationalise their businesses through Singapore.
 Tata Capital Pte Ltd (TPCL) has been operating in Singapore since 2008.

Under the MoU, TPCL and EDB would leverage on each other's strengths to reach out to companies in various countries, specifically India, to explore business opportunities in Singapore, he said.
TCPL would facilitate collaboration and information exchange between Indian companies and EDB, and offer relevant strategic advice and financial solutions.

Kadle said: ÒTata Capital, with its strong corporate customer base and wide range of financial advisory services, is well positioned to help these (Indian) companies with their international ambitions.
ÒHe said Tata Capital and EDB would help Indian companies leverage Singapore's regional and international influence and outreach and in return contribute to Singapore's long-term prosperity.

The Indian companies would be able to tap international expertise, both in financial sector and investments, in regional resources from networking in Singapore's financial hub of 7,000 multi-national corporations, which includes a strong presence of Indonesian and Australia resource-owned groups, said EDB Director Lee Eng Keat.

He said Indian companies formed the largest business community in Singapore with over 5,000 companies operating out of the city state into the regional business and trading environment.
ÒThese companies have done well,Ó said Lee, adding more companies to take advantage of the Tata-EDB MoU offer to set up regional and international operations in the city state.

ÒIn the last four-and-a-half years, Tata Capital has built a relatively strong focus on financial services areas.
Our loan book is close to US$4.2 billion,Ó Kadle said.

Tata launches HBS classroom at Taj Lands End

Mumbai, Mar 9 - Tata Group Chairman Ratan Tata today inaugurated the first classroom of the famed Harvard Business School (HBS) in the country here.

 The chairman of the salt-to-software conglomerate had granted USD 50 million to the American university in October, 2010 for the purpose.

 The classroom can accommodate 82 students and is located in the Tata-led Indian Hotels property Taj Lands End at the Bandra suburb of the metropolis, a statement from HBS said.

 The Tata Group chairman, who retires later this year, is one of the most famous alumni of the institute in the country.

 The USD 50-million gift made through the group's philanthropic bodies Sir Dorabji Tata Trust and the Tata Education and Development Trust was the largest from an international donor in the school's over century-old history at that time, it said.

 The school's dean Nitin Nohria was present for the inauguration of the amphitheatre-styled classroom.

 The HBS faculty will offer programmes in business, government and academia on a wide range of subjects such as corporate social responsibility, building global enterprise, and case writing and course development, it added.