Money & Banking

Coffee break: Shankar Sharma steps back from First Global

Kumar Shankar Roy Chennai | Updated on September 23, 2021

Shankar Sharma

Shankar's wife Devina will continue to run First Global, which has evolved into an investment management firm

After a long stint in the stock markets, First Global vice chairman Shankar Sharma is moving on to the second innings of his life. This time it is to build a consumer brand in the coffee company, Caffè di Artisan.

Shankar's wife Devina will continue to run First Global, which has evolved into an investment management firm.

"I would continue to run First Global. As you are well aware, I have always been the Founder, Chairperson & Managing Director of the First Global group. Therefore, nothing really changes," Devina Mehra, Founder, Chairperson & MD, said in a note to clients.

The consumer brand in the coffee business requires full-time attention and hence Shankar is going to devote all his energy to it.

In 1989, Sharma quit Citibank in his mid-twenties and founded First Global with a seed capital of ₹5,000. Devina spearheaded the company's global foray 1999-2000 onwards making First Global the first Asian (ex-Japan) member of the London Stock Exchange & the NASD. First Global today has presence in major markets such as Asia, UK, US. In India, its entities are First Global Stockbroking Pvt. Ltd, First Global Commodities Pvt. Ltd, First Global Finance Pvt. Ltd. and First Global Securities Pvt. Ltd.

However, Shankar Sharma said:  'The news is misleading and inaccurate."

Published on September 22, 2021

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