Mumbai: The chairman of Indian financial services firm DSP Merrill Lynch said on Wednesday he had sold his 10% stake in the firm to Merrill Lynch & Co and would step down after 31 March.
“My dream was to create a professional organisation. I have achieved it. It is time for me to look at something I like,” Hemendra Kothari told reporters.
Kothari has spent about 40 years in the financial services industry and has a 25-year relationship with Merrill Lynch, which is now a unit of Bank of America Corp.