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Megha Kapoor
Class of 2007
Independent Consultant, Centre for Analytical Finance, ISB
Present Occupation: Independent Consultant, Centre for Analytical Finance (CAF), ISB
Sector: Private Equity and Investment Banking
Work Experience: 8 Years
Interests – Professional/Personal:
I love to travel to different international locations, experience their culture and meet new people.
Can you tell us a little about your family background/history?
I grew up in Delhi where I lived until I came to Hyderabad to join the ISB. I attended a Catholic school after which I did my undergraduate studies at Shri Ram College of Commerce (SRCC), Delhi University. After SRCC, I pursued a Chartered Accountancy degree while working for Andersen/ Ernst & Young. I was able to pursue my educational aspirations because of my family’s support and the emphasis they placed on higher education. My father was part of the first batch that earned MBA degrees from the Faculty of Management Studies (FMS), Delhi University. My mother holds a Ph.D in English from Delhi University where she is currently a professor. My sisters are doctors, and I also have a younger brother who is an engineer pursuing higher education in the field of finance. My husband is an electrical engineer from IIT Delhi and has worked in the field of automotive design for German OEMs.
Briefly describe your personal and professional achievements (including recent awards\special projects)
When I relocated to a small, idyllic town Germany in 2008, I felt as though I was starting from scratch. Without speaking the German language, I could not even do groceries, let alone find a job. After having a successful career in India, this was extremely demoralising. However, with the help of my husband, I enrolled myself in a German language course, and in a little over a year, I moved to Munich to work as an Investment Manager at a traditional, family-backed German fund. It was an enriching experience for me, both personally and professionally. As the only foreigner in an all-German (rather, all-Bavarian) team, I was able to excel.
Tell us about your profile pre ISB, and recap your professional life after ISB including your career progression
I began my career in 2001 with Arthur Andersen, which was acquired by Ernst &Young (E&Y) soon after. This was around the time I was pursuing my Chartered Accountancy degree. I worked with E&Y across divisions such risk consulting and auditing until 2005. After completing my degree, I moved to the transaction advisory practice of E&Y, working on M&A deals within the technology sector.
The decision to come to the ISB was taken when I applied the risk free rate of India in valuing an American company (those in investment banking will understand what that meant). Hence, I applied to the ISB to understand the corporate finance theory better. ISB not only gave me that knowledge, but also allowed me to transition to a bulge-bracket investment bank, which would have been impossible without the school's brand. It gave me the skills to shine in high-stress environments of investment banking. It also gave me the confidence to later be able to work in Europe in a foreign language I had learnt for only six months.
Describe your fondest memory at ISB
My fondest memories of the year I spent at the ISB were the theme parties we often had during the year. Barely managing to stay awake in our classes the next day is something I will always fondly remember. I also recall literally running to 8 AM classes in the morning and wishing that the TA would be late. In our year, the TAs took videos for attendance … really!
In your personal life, how have you changed post-ISB? Do you see yourself doing something differently because you went to ISB? What has left a lasting impression?
Not really. Personally I am still the same as I was before. However, the year I spent at the ISB did give me the maturity to deal more effectively with different professional situations. It was also an excellent learning experience. By the end of the year, I could see and appreciate the different skills of my classmates, such as their skill in sports, music, academic excellence, etc. I am not sure if one can find a bunch of more talented people at any other institution than at the ISB.
How do you think ISB has contributed to your career growth?
ISB has given me a very strong foundation both technically as well as in terms of interpersonal skills. It has given me the confidence to succeed in today's reality where we have all become global citizens.
If you have to sum up ISB in one word:
An experience!
What was the main highlight of your programme at the ISB?
The main highlight of the programme was getting to learn diverse subjects through the year. From courses such as Statistics in Term 1 to Gender and Leadership in Term 7, the opportunity to learn such a variety of subjects was invaluable.
Word of advice for the current class?
Someone had said this to me just before our placements: “A good job from ISB does not guarantee success in your career and a bad job will not guarantee failure.” It is a thought worth pondering upon.
What was your favourite course/class at ISB and why?
My favourite class was Financial Accounting in Term 1, which was taught by the excellent Professor Finn, a visiting faculty from Kellogg. It was probably among the few courses where I did not have to do pre-reads and could still be assured of landing an A grade. It is also a time when CAs feel really valuable at ISB.
Was there anyone during your time at ISB who acted as a mentor for you? Tell us a little about this relationship and why it was valuable.
Rather than a single person, it was actually my entire group for interview preparation that acted as mentors for me. As a group, we complemented each other brilliantly. I still remember their support in guiding me to negotiate at Day 1.
What are the areas in which you can contribute to ISB?
I am actively involved at the ISB this year, especially since I am living on campus for the time being. In the last few months I have reviewed resumes and explained several JDs to the students. Going forward, I think I would like to contribute to the school by engaging in more alumni events abroad and making the network stronger.
What do you enjoy most about your current career position?
In my current position, I am leading efforts on behalf of CAF to implement a pioneering project in the field of alternative financing sources for MSMEs. I had limited experience in structured finance before, and hence, this is great learning for me. I am getting to understand challenges faced by MSMEs in both formal and informal financing, especially on the debt side. I am also getting the opportunity to meet very experienced people and I am enjoying learning from them.
What is the next new thing in the industry or vertical you are working in? Any trends that you can see?
I am currently working on implementing a pilot project to securitise trade credit for SMEs in India. The ultimate goal is to create a market for such securities as against bilateral transactions. With the slowdown on the equities side in India, debt will play a more important role in total financing. With the gap in debt financing for MSMEs being so large in India, I believe innovative products will need to be offered soon. The regulatory environment is also stepping up to govern newer products. For example, after the new guidelines, we are now seeing the securitisation market widen again, with insurance companies and wealth management clients beginning to invest in such transactions. Gold loans have emerged as a new underlying security for securitisation.
Very recently, we have also witnessed tighter regulations from RBI for the NBFC sector, which should eventually improve the sector’s stability and structure. In the future, we will be seeing newer segments of individuals and industries gaining access to finance, unlike in the past.