MC Insider: Message in a T-shirt, sarkari moves after LIC IPO, brokerage gunning for ETFs, NBFC wary about fintech, and more

What happens if you indulge in unfair practices in the investment industry and top it off by wearing a T-shirt blazing "sack me if you can"? Well in the case of this trader, the management promptly accepted the challenge and terminated his services. Guess a change of wardrobe is in order now.

Now that the big-bang LIC IPO is out of the way (the listing was followed by a well-deserved bash in the evening at a tony hotel in South Mumbai), North Block mandarins are breathing easy and whispers in sarkari corridors suggest that going ahead, a few smaller OFS (offer for sale) deals cannot be ruled out in the first quarter of FY23. Sectors such as fertilisers, defence and commodities are on the government’s radar. Any guesses?

How often do mutual fund houses go on the hunt for a new CEO? Not very often! Which is why the market is abuzz with news of a controversy-laden asset management company contacting potential candidates and setting up meetings. After all, accountability must begin at the top. Hmmm, let’s see how this plays out.

After being part of the founding team that launched the first exchange traded funds (ETFs) in India, this mutual fund industry executive is now on his way to lead a large discount broking firm's mutual fund foray. We hear the executive will help the new asset management company set up its own suite of passive investment products. This discount broking firm has big plans in ETFs and wants to disrupt this segment by building ETFs that are highly liquid. The first ETF fund house was perhaps way ahead of its time, but who knows this time around, this executive will finally get his due as ETFs have more acceptance today.

The mega $10.5 billion Adani-Holcim India assets deal has put the spotlight on the cement sector, which is all set for intense competition between the new entrant and the current market leader Birla group. The focus is also on small and mid-size players as further consolidation is expected. Here’s a nugget about one such player with a strong presence in North India. This firm underwent key structural management changes recently with a GenNext individual taking over as chief strategy officer. We hear the analyst community was mighty impressed with the young promoter for his deep understanding of the sector’s dynamics.

At a recent advertising industry award show, some attendees were left puzzled and bothered by the treatment given to a session on diversity, equality and inclusion, a pressing issue for the Indian and global industry. Everything from the time allotted to the timing of the session (when people are only keen on snoozing or schmoozing) was questioned. For an industry that prides itself on pushing and promoting a purpose-driven, people-first agenda for big brands, the way the session was handled defeated the purpose, it seems.

A creative unit of a leading media agency is letting go of new business opportunities. At a time when marketers are revising their budgets to allocate more monies for digital advertising, the chief of this agency is nervous about testing new waters. The agency that produces creative work for mainline media has recently got offers for several big digital projects. However, the chief executive is okay to let go of work that he isn’t confident about. A rare thing. Creative shops are hungry for new business, regardless of their expertise. But it looks like at least one is not yet ready to jump the digital divide.

Imagine having your worst suspicion confirmed in a poetic way. This non-bank lender has been wary of joining hands with fintechs. Recently its top boss was at the receiving end of a vicious peer-to-peer lending platform’s collection tactics. The gentleman received a bunch of terse messages with choice words, not to be repeated in polite company. Upon investigation, he found that one of his personal staff was the borrower. The fintech had merrily claimed access to the staff’s contacts and went on to harass by hounding everyone associated with him, including his employer. Needless to say, this NBFC would steer clear of fintech partnerships and focus on its own super app. The company’s chief doesn’t want to shake hands with ‘fly-by-night’ youngsters with dubious collection processes. It is telling considering it comes from an NBFC known to lend to underserved borrowers.