STATEMENT OF PURPOSE
Bryant McGill had said, ‘Ambition is not what a man would do, but what a man does, for ambition without action is fantasy.’ My ambition is to include the name of my family business in the top 100 Financial Companies of the world. I have always dreamt to see my name amongst Internationally acclaimed JP Morgan, Merrill Lynch & in India companies like Religare & Edelweiss. To reach there, I will have to act and that’s why I happen to apply to your esteemed University for my Masters in Corporate Finance.
Like every other student when I was 15 years old, I had to make a career decision for myself. At that point of time, I chose to enter the field of Finance and make a mark for myself. It was quiet obvious that I would want to get into this field. My family owned one of the most successful Financial Consulting Company in Mumbai. I grew up observing the elders in my family discuss Debts, Equities, Premiums, Principal amounts, the turnover figures of the various clients and so on. These discussions ultimately led me to gain interest in the field of finance. I gradually came to appreciate the importance of finance in the modern world. I quickly wanted to grow up and join them However that never happened. I had to complete my Bachelors, intern under various reputed financial companies and work my hard way up to where I am now.
Post my Senior Secondary (SSC) Examinations, I did a summer internship from April 2006 to June 2006. My experience while doing my internships with companies like XYZ (India) Pvt. Ltd.-Financial Mall Division, XYZ BPO Services where I dealt with Unit Link Insurance Policies (ULIP) was very fresh and exciting, as I was exposed to the real corporate world and the finance industry’s working for the first time. During my Bachelor’s, courses like Business, Management, Economics and Finance impressed upon me the importance of the financial sector in the economy. The practical experience during my internships gave me a new confidence to go ahead and learn more, as I thoroughly enjoyed working for this industry. What I most enjoyed was facing a challenging situation like planning a basket of customized financial products for a few High Networth Income (HNI) clients taking into consideration the market scenario and their risk taking appetite at that point. This service was instrumental in turning them as our permanent clients.
Through case studies and lectures, I broadened my understanding of economic principles while learning about management and its relationship to finance. This was particularly fascinating at the time because the global financial crisis of 2009 was wreaking havoc on economies and businesses around the world, and the theories that we learned were directly applicable to the current events in the news.
Currently, my job portfolio is of a Management Trainee - Corporate Finance, wherein I am currently working on three Debt Funding Projects under my seniors. When I had joined XYZ Corporate Finance division, the most interesting and challenging industry that I found to work on was the Casino and Gaming industry. XYZ Corp is our client and is the leading company in the casino and gaming industry in India. This project was struggling to raise debt, as Casino and Gaming Industry in India was considered as a Taboo, and there were only three places in India (Goa, Sikkim & Union territory of Diu-Daman) which were legally allowed for Casino. Since banks were not open to fund a casino company, what we explained to the banks was that they would not be funding the casino players or the gamblers, but the company, which is dealing in casino business, and there is a law of probability, which is in the Gaming industry that takes care of the risk factor. Thus, by further discussions with the bank and convincing them that Casino funding is rather opening a new door for business, we successfully managed to raise debt for XYZ Corp.
I have learnt in the process that corporate finance consultants not only develop great relationship with banks and financial institutions (FI), but also understand the appetite and liking of each bank/FI towards the various industries. When the clients approach investment bankers, they not only prepare a project report, but also decide the right bank to be approached for particular industry/project. Thus, during my work on XYZ Corp’s project, I learnt to solve the complications and understand the importance of project finance consultants, specifically debt funding in the Investment banking industry.
It is due to my understanding of the importance of finance and investment, coupled with my longstanding interest for this subject that I have decided to pursue postgraduate studies in finance at your prestigious University. A Master’s Degree in Finance (core module corporate finance) would ideally complement my graduate degree in Banking. I have chosen to pursue master’s studies in the UK because it is home to many of the leading financial professionals and institutions in the world. The recent financial crisis has transformed the finance industry, and studying in the UK is ideal for grasping the changes that are currently taking place in this field. Specifically, the resources and expertise available in your university will provide me with a broad and deep learning experience.
Apart from study and work, I have been engaged in serious theatre and acted in commercially successful stage plays for the past three to four years with well-known writer-director Mr. XYZ. Acting is a passion and it has helped me to evolve into a confident individual. While doing theater I realized that it completely groomed my personality with regards to presenting myself on a public platform. Stage fright disappeared and this helped me while conducting seminars for the department of Banking & Insurance while pursuing my Degree in commerce graduation.
My long term goal is to join my Family Organization XYZ (India) Private Limited, which is an NBFC into Investment Banking providing Financial Consultancy by raising Debt Funds for Clients from various industries such as Hospitality, Infrastructure, Bullion, Manufacturing, etc, for the last 20 years. Equipped with the technical expertise and professional skills and global exposure I could elevate Money Managers to be amongst the top Investment Banking firms in the world. I am confident that I am well-prepared to meet the demands of your program, and I would greatly appreciate your consideration in choosing me to be a part of your University.