Buzz: Tata boss only desi at UK PM’s dinner

ET’s weekly roundup of the wackiest whispers and murmurs in corporate corridors & policy parlours.First Among EqualsIt’s great to be part of an august club of 20 most influential CEOs in the world, wined and dined and schmoozed by UK Premier Boris Johnson. Tata boss N Chandrasekaran can vouch for that. He was the only desi at this power-packed dinner hosted last week by Number 10, which also had Saudi Aramco and PIF boss Yasir Al Rumayyan, Bill Gates, Jamie Dimon, David Solomon and Larry Fink. We don’t know which was more satisfying – meeting the Queen or a grand dinner cooked by Michelin three-star chef Clare Smyth — but certainly one can say these are the perks of being among the top employers in Britain. No wonder other India Inc bosses had to settle for the B Team, a dinner next door at Number 11 with chancellor Rishi Sunak, no matter their net worth.Going New AgeYet another billionaire son is rising. Only this one we thought would pad up for a very different innings altogether. You cannot blame us for being surprised then, when a little birdie told us this young Turk is taking a serious interest in business. In fact, he played a key role in his dad’s latest bet in the Middle East. A swish hotspot, modelled on Annabelle’s, is on the menu. A senior manager from Tramp, another London High Street private members’ club for the Mayfair set — hedge fund managers, rockstars and Hollywood A listers —has been poached to steward the new setup in midtown Mumbai, a stone’s throw from papa’s HQ. Apparently, the handsome scion is keen to pursue new-age ventures, so we expect either a makeover of this storied group or the family office to turn angel for many upstarts.Rocky MarriageIt was always a marriage of convenience, solemnised just for the regulatory blessings for a tricky takeover. Else, the DNA of a fintech startup and that of a legacy financial services firm is as similar as apples and oranges. Little wonder then, we sense cracks in the relationship already. From funding to strategy and operations, we hear differences have begun to mount and that has started taking a toll on the senior personnel. A European bank, we hear, has been a big beneficiary of the revolving door at this rocky venture, after several from the treasury department chose to walk out for a more stable environment. Let’s see if this one is headed for a divorce even before we can say cooperative.An Invisible HandIt seems bankers, like politicians, never retire. The imprint of this former financial services poster boy on a recent headline-grabbing transaction was totally unknown to us, till it wasn’t. Word on the street is that he played a key role in identifying the investor, the target, and even catalysed a call between the two principals and played a hand in cherry-picking the investment bank to carry out the necessary paperwork. We have been scratching our heads thinking about his recent association with a rival investment firm to figure out any potential conflicts. But considering there has been some bad press around that, is some realignment taking shape?Matter of MandatesThis genial gentleman is facing some curve balls within a year of joining this Wall Street colossus. You see, he had a small stake in one of the hottest homegrown unicorns that got acquired recently for billions but instead of his firm being part of the trade, it was their crosstown rivals that pipped them. That has caused several higher-ups to breathe fire. The firm has also been missing in several of the highprofile tech IPOs that have hit or are hitting the capital markets, again losing out to rivals. Guess the top chair comes with a lot of strings attached.Generational GapThere are murmurs in hospitality circles about growing differences between the heirs of a leading chain and the patriarch, also doyen of the industry. The severe stress on cashflows due to Covid-19 played a part in straining the relationship. But the latest flashpoint has been the proposed introduction of a 20-something family member into the business, something that the older generation is not chuffed about, say insiders. The worsening relationship between the two is affecting decision-making. And from the sidelines, a powerful outside stakeholder is watching events unfold with great interest.A Presidential AssignmentIt’s not everyday that you get a call from the staff of a former POTUS. But that’s what happened with this hotshot global talent accelerator firm. As you know, Donald Trump wants to create a new online platform called Truth Social, after being banned by most platforms following the Capitol Hill attack on January 6. He needs talent to scale up globally and hence the call. Last heard, this homegrown startup is unlikely to take up the assignment, being concerned about a variety of factors. But this is certainly one hell of a story to wow new talent.

from Economic Times https://ift.tt/3Ce2L7F