The Hindu Business Line : A successful innings at Ernst &Young

FROM an under-graduate trainee in 1959, to being the chief of the country's top professional management consultant firm till date since 1995, is a long innings.

And tomorrow, as Mr Kashi Nath Memani is to hang up his boots after his last day in office as Chairman & Country Managing Partner, Ernst & Young India, the 65-year-old veteran chartered accountant says he has no regrets.

"It has been a very successful innings. Rising in the ranks to become a Partner in 1968 of Calcutta-based S.R. Batliboi and Co, I branched off to Delhi in 1970 to set up the branch office. And since then, there's been no looking back," says Mr Memani in an informal chat with Business Line.

"It was a great turning point in my career, as within five to six years, I established myself very well here as S.R. Batliboi & Co. And frankly, God has been kind to me," he says.

And he has reasons to say that, the way things fell in line. Going back in memory lane, Mr Memani says: "At that time, the global firm in operation here was Arthur Young, and in 1989, Arthur Young and Ernst & Winnie merged globally to become Ernst & Young.

Also, at that time, there were two firms representing Ernst & Young in India, S.R. Batliboi & Co, whose branch office I headed in Delhi, and S.B. Billimoria & Co. The two firms failed to merge and luckily, Ernst & Young chose us as their sole representative member-firm in India," narrates Mr Memani with an obvious sense of pride.

And truly, Mr Memani did not have to look back. With him at the helm since 1995, Ernst & Young India moved from strength to strength. In 2000, after the Arthur Anderson fall-out, Ernst & Young succeeded in taking on board its partners and personnel, making it the largest consultancy firm in the country not only in terms of revenue but in all other aspects of advisory competencies.

In 2003, International Tax Review, a respected global publication, declared Ernst &Young as the country's number one tax advisory firm. In its latest annual ranking, Bloomberg, the financial information provider, has placed the company at the top of the list in the number of mergers & acquisitions (M&A) transacted during 2002. Ernst & Young India also has the distinction of being the first in the global firm's Asia-Pacific region to launch the prestigious `Entrepreneur Of The Year Award' in 1999.

"I could not have asked for more in my life. I am very happy with what has been achieved and very grateful to my staff and colleagues to have taken the firm to this height with a very young team of partners and professionals with an average age of 35 and 28-30 years, respectively. In my last 10 years in the organisation, my total concentration has been on investment in infrastructure and people, and quality, which has brought about growth. Clearly, all that effort and investment has paid off," says Mr Memani, with a sense of satisfaction.

Where does he go from here? Mr Memani is very clear in his plans. He is the Vice-President of PHDCCI, a member of the Managing Committee of FICCI, and would like to be on the boards of a few companies, offers for which are flowing in.

But about one thing he is very clear. "I will not like to poke my nose in the affairs of Ernst & Young, unless my advice is sought," he says, and this is despite the fact that from April 1, the Chairman of the firm would be Mr Jairaj Purandare based in Mumbai and the CEO would be Mr Rajiv Memani based in Delhi.

Yes, that's his son, "but that's a mere coincidence," he says.