If God Was A Banker (19 page)

Sundeep had pulled off the biggest rip-off in the history of Indian credit cards. One million insurance policies sold with a monthly premium collection of close to three million dollars was not small game.

It was not long before the press and consumer activists got wind of it. New York International Bank's press office was flooded with complaints and calls seeking details of this scheme.

'NYB fleeces millions of unsuspecting Indians,' soon screamed the headlines in the
Times of India.
'The great credit card rip off; 'Insure against insurance frauds: Banks on the prowl'; 'Mis-selling, the NYB way'—nearly every newspaper published ugly articles about New York International Bank.

Sundeep was not flustered. He knew that all of this would die down. When Kailash called him about this, Sundeep requested him to give him a week. Kailash was worried that if the international media got to know about this, NYB would be screwed. It might even cost him his job. The only saving grace for him was that this entire programme was commissioned and executed when he was on leave.

Sundeep had already got his press machinery into an overdrive. The media relations wing of NYB called up all newspapers, magazines and tabloids, and threatened withdrawal of advertising support if they wrote anything derogatory. This worked on the smaller media and TV channels.

The larger ones took it upon themselves to wage a crusade against the tyranny of the MNC banks. They kept writing about New York International Bank for four-five days and then lost steam. It was no longer front-page news. The entire episode fizzled out. New York International Bank earned over five million dollars in the bargain.

This episode took place in the month of November. In India, NYB was well behind the targeted revenues for the year. So, the five million dollars they made in the entire bargain, despite the debatable means employed, didn't create any internal stir. On the contrary, Sundeep became a hero. 'Everyone told me not to do it, particularly you Swami. Despite that I went ahead and did the insurance deal. Now look. The bank has earned over five million dollars. You must take risks in business,' Sundeep thundered in one of his many speeches. He started touting the scheme as an innovation. This irritated Swami no end, but the nice Swami never responded to such provocations.

Sharada, true to her word, went on a 'full service' date with Sundeep. But, instead of Switzerland, they decided to make do with Sharada's posh home in Pali Hill, Bandra. Sundeep got his pound of flesh, literally, for his indiscretion.

S
wami's open dissent on the insurance sales issue had majorly pissed off Sundeep. He was quite furious. But this issue was so sensitive that he didn't want to be seen taking a tough stance on Swami. He decided to wait for the right opportunity to get even.

A golden opportunity came his way.

The BPO wave was sweeping India. A number of companies from the west started outsourcing their back office processing jobs to India. Call centres across the world were relocating to India. India offered a splendid opportunity to cut costs. It also had a large population of English-speaking people, and so finding skilled people to do these jobs was not difficult.

NYB also wanted to shift some processes to India from across the globe. They decided to scout around and acquire a BPO in India. They would rather outsource to a company managed by themselves rather than to a third party.

Within ninety days a target BPO was identified and acquired. BOCA was a small BPO based in Delhi. Post acquisition by NYB, the responsibility for running it and getting cost efficiencies out of it was thrust on the retail side of NYB. Sundeep was asked to take it under his fold. Grudgingly, he accepted this. He viewed it as a pain rather than a challenge.

All the employees of BOCA were absorbed by the NYB group. Within two weeks of the BOCA acquisition, its leadership team was asked to make a presentation to Sundeep on the opportunities that existed in the BPO space, and how a bank like NYB could leverage on this acquisition.

Sundeep was not interested in the proceedings right from the beginning. The presentation took him through some slides on the evolution of the BPO industry in India and the nuances of operating a BPO.

Sundeep was thinking about the cards business. He was concerned that the new cards acquisition growth had not taken place in line with his expectations. His mind meandered to the insurance cross-sell tiff with Swami. All this while, some idiot was presenting on the BPO activities. Sundeep had not registered a thing. He was getting restless and upset on recalling his discussion with Swami.

And then, slowly but surely he broke into a devilish smile. He had found reason to be interested in the BPO business. For the next three hours he grilled the entire BOCA team on anything and everything about the business. When he got out of the BOCA presentation, he was convinced that this was a fuck all business.

BOCA requires someone from NYB to control it and run it, he thought as he was entering his office. He thought for some time and decided to send out an organisational announcement. Normally he would have called his secretary to dictate the message to her, but this was special. He had to do it himself.

After typing the message he thought for a second. Was he doing the right thing? Should he not first speak to the people who the message would impact? 'Fuck it,' he said to himself and pressed the send button on the screen.

Swami was in Chennai when this message reached the management committee of New York International Bank. The news spread like wildfire.

Swami was in a meeting with DBS developers, who were the leading developers in Chennai. His phone was on silent mode. It was a long meeting and lasted for over ninety minutes. They were discussing some complex financial deal. After the meeting when Swami came out and looked at the phone, he had twelve missed calls from Kalpana. He panicked. He immediately called her back. 'Swami, where are you? I have been trying to reach you for the last one hour.'

'What happened, Kalpana?'

'Haven't you checked your mail?'

'No.'

'Swami, there is a mail from Sundeep in your mailbox. See it and call me back. Right now.' There was panic in her voice, which told Swami that all was not well.

The moment Swami reached his office, he connected his laptop and opened his mailbox. There were forty-two unread messages. Most of them were normal mails. Or so it seemed till he reached the third last mail.

This was a mail from Sundeep on the acquisition of BOCA.

Friends,

As all of you are aware, we have today completed the acquisition of BOCA, which is a company into business process outsourcing in the banking and financial services industry. BOCA is a small company started eighteen months ago and has managed to get three key processes outsourced to it from New York International Bank in USA. We have completed this acquisition in line with our backward integration objectives.

This acquisition means a lot for the India business of New York International Bank. We will, over a period of time, transition most of our operations to this new company. BOCA will give us synergies in terms of cost efficiencies and technology. This company holds the key to our growth plans as we embark on a journey to become the largest financial services organisation in India.

Keeping in line with the criticality of this acquisition, we have made some key changes to the management structure in India.

Swaminathan, the current Head-Distribution, will move on as Managing Director of BOCA. He will be responsible for managing the integration of this business with our organisation. His vast experience will be completely stretched to ensure that we are able to manage this acquisition and derive the best value for our shareholders. His move will be with immediate effect. Akshay Bhalla, Vivek and Anindyo Roy will now report directly to me till such time that we announce a replacement for Swaminathan.

Please join me in wishing Swaminathan the best of luck in his new role.

Regards,

Sundeep

Swami couldn't believe it. He called Kalpana. 'What the hell is going on?' He sounded frustrated. He had been tolerating all the crap that Sundeep was throwing at him, but now it was getting too messy.

'Why don't you call Sundeep and ask him why he did this?' suggested Kalpana.

'No, I can't call him. It is very clear that he has done this intentionally. The least he could have done was call me before he sent out this mail. I don't think he can explain this, even if I call him.' The disappointment was pretty much evident in his voice. 'Anyway, I'll be back tonight. I'll talk to you then,' he said before disconnecting the call.

S
wami was very disturbed. He couldn't fathom why things were going wrong for him ever since his return from America. The role which Sundeep had decided to move him to would befit someone five years his junior. He decided to make a call.

'Aditya,' said the voice at the other end.

'Hello Aditya, Swami here.'

'Hey man. How are you?'

'Not too good, Aditya.'

'I heard about the acquisition of BOCA and your move.'

'What do you think of it, Aditya? Why is Sundeep doing this to me? I haven't done anything to harm him.'

'Swami, let's meet up the day you return. We need to chat. Please do not do anything stupid before you speak to me,' Aditya knew Swami very well and was scared that he might quit in a huff.

'I'll be back tonight, Aditya,' said Swami.

'Then let's meet for breakfast at Taj Lands End tomorrow morning. Do not bring Kalpana with you.'

'Okay.'

He went to the airport and took a flight to Mumbai. He went home straight, as he did ,mnot want to meet or speak to anyone from the bank.

After his conversation with Swami, Aditya thought for a moment and then called another number.

'Aditya! What a pleasure!' It was Sundeep.

'Of course, Sundeep. How have you been?'

'I am doing great, Aditya. You seem to have vanished in thin air.'

'Just got a bit busy with my new venture. I called regarding something specific, Sundeep. Can we talk now or should we talk later?'

'Aditya, I'll drop everything I am doing to listen to what you have to say.'

'It's about BOCA, Sundeep.'

'What about it?'

'Sundeep, are you doing the right thing by moving Swami to the new company. I just heard about it.'

'Did Swami squeal to you, Aditya? Why can't he pick up the phone and speak to me, if he has a problem?' The irritation in his tone was very evident.

'No, I just heard about the mail you have sent out. My network is still active within your bank, Sundeep,' Aditya lied.

'Why would you think I am doing anything but the right thing?' Sundeep was not happy with the discussion.

'Aren't you being strangely vindictive with Swami? You are moving him to a role which even his juniors will not be willing to take,' Aditya asked him point blank, and Sundeep didn't like it one bit.

'Aditya, must I remind you that you are no longer with the bank?' Sundeep forgot for a moment that it was Aditya who made him what he was today. 'Concerning yourself with issues which are purely internal to the bank and hoping to be heard is very ambitious of you. Is there anything else you called me for? Else I need to go. I have people waiting for me.' Sundeep was really upset that Aditya had raised this with him.

Aditya was taken aback. He was deeply hurt and insulted and didn't know what to say. He decided to end this conversation and meet Swami the next day.

'A
rre Hero.' Vivek turned when he heard someone calling him like this from behind. It was Sundeep. 'How is the month going?' Sundeep knew that it was a bad month for personal loans. Despite that he asked Vivek in full earshot of everyone. The intent clearly was to embarrass him. For him, Vivek was Swami's man. He was quite antagonistic towards him. Vivek knew that and tried his best to be professional in his approach, but he too was reaching his wit's end.

'Can be better, Sundeep. We have eight days to go for the month to end. Hopefully, we will achieve the desired numbers,' he said.

'Did your Mumbai guys screw up again?' asked Sundeep, raising his voice so that everyone around could hear him. He knew that Mumbai had not delivered on their numbers in the previous month.

'They are struggling a bit, Sundeep. But we have done some changes and they will soon come up the curve,' argued Vivek.

'Rubbish.
Yeh sab bakwas hai.
Let's do a complete review of the Mumbai business. I want to meet your entire Mumbai sales team,' said Sundeep, 'I am free in the second half today. Please fix up a review meeting with them.'

'Sundeep, they won't be able to come at such a short notice.'

'They better come if they want to keep their jobs. Six p.m. sharp, in my room.' Sundeep walked away without waiting for Vivek's response.

Vivek along with his Mumbai sales team met Sundeep in his large room at six in the evening. Sundeep made them wait for over an hour before granting them an audience.

The Mumbai personal loans business for New York International Bank was going through some pressure. Mumbai was a tough market to begin with. It was also home to a few of the largest banks in India, and the competition was intense. It was difficult for any new business to do well in Mumbai, and the personal loans business was no exception.

The head of the Mumbai sales team was a guy called Jinesh Shah. He had worry writ all over his forehead as he entered Sundeep's room. His team members were in no better state. Vivek was also finding it difficult to wipe the wrinkles off his face. Sundeep was not known to be considerate and understanding.

The meeting was a tough one for Vivek's team. From the word go, Sundeep was ballistic. It was difficult for him to accept that Mumbai personal loans was not doing well, and the fact that Vivek was Swami's man complicated matters.

Vivek tried defending his team. 'Don't get into this pissing match with me,' Sundeep had thundered, shutting off Vivek for the rest of the evening. 'Why am I taking all this shit? Why don't I just quit and go?' The thought of quitting crossed Vivek's mind at one point during the meeting.