Keki Mistry, vice-chairman and chief executive officer of Housing Development Finance Corporation
Interview
with Santosh Nair
Below is the verbatim transcriptt of the interview.
Q: You have worked your way up the ranks in HDFC, how has the journey so far been?
A: Very good. I started in October of 1981, so it is almost 30 years now. I was with Indian Hotels for a couple of years, not even a couple of years, year and half or so and then I finished my CA. At that time HDFC was looking for someone in the finance department, so I joined as assistant manager, accounts. I remember my first salary was Rs 2620. In 1985, I became Manager. Then in 1989, I became General Manager, in 1993, I became Executive Director and from 1993 till 2011, I have been on the board, so its 18 years on the board.
Q: Is leadership is something that came naturally to you or did you pick it up over the years?
A: I don’t think anything you can pick up; these things come naturally to you. Obviously there are a few things that you can pick up but they have to come naturally to you. So I think leadership is really more about letting people be what they are, hearing suggestions helping them, guiding them but at the end of the day leaving them to do the things the way they would probably do it best, after all they are all professionals.
Q: How would you describe your style of management?
A: Very proactive but a little bit hands-off. I would have certain broad criteria which you are required to perform like for example we have corporate goals, so we have to make sure that those corporate goals are attained all the time and that gives credibility to the company, it gives credibility to investors. Then those corporate goals are then sort of decimated or passed on to people. So whether it is business, whether it is recoveries, whether it is funding, whether it is deposits, whatever area you look at, you leave it to the individual, there is a target given to him and if he has problem in achieving that target then we have to discuss it otherwise its pretty much left alone. You would of course get suggestions, ideas but the basic approach has to be hands-off and proactive.
Q: Every leader is unique yet there are some basic traits that go into making of a successful leader. What according to you are two traits that every good leader must have?
A: One is the ability to listen, that’s the most important thing, and not just impose your view on people. I have a very flexible approach, so if someone gives me an idea which is different from what my idea is, I would be very happy to say that what I thought was wrong and what he thinks is right and change. So that’s one and the other is to treat each individual separately. What you are is different from what somebody else is and what somebody else is different from what a third guy is. Each person has his own ego, has his own way of behaving, his own wants, his own wishes, his own desires. So you have got to treat each person as an individual.
Q: What would your advice be for the youngsters aspiring to be in leadership positions?
A: Try and be perseverance because you cannot always succeed. There are times when success seems very far away. There are times when you don’t sleep in the night because you are thinking of a problem which is very eminent so one must learn to relax because you can’t carry your problems through and work on it the whole night, you get more jumbled. Things become more clear when you get up in the morning and start thinking about it. Two is, don’t give up, never give up. If there is something which you are not successful first time do it a second time, if you are not successful the second time do at third time. But if you have the vision, commitment or the belief that it is going to happen then don’t give up, just persevere, just continue and it will happen.
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