I present to you all, Vision 2025

June 15, 2021

Dear Sherus,

It’s been four years since that energetic and electrifying evening at the scenic Amby Valley, when we launched Vision 2020 for Sharekhan. Those moments are still etched in our memories and it feels like just yesterday. A lot has been accomplished in the past four years and there have been important learnings too. The last year saw the COVID-19 pandemic, which changed the way we work and interact with each other. But thanks to all of you, we have been able to deliver services to our customers and take care of our employees with the support of BNP Paribas. Now we need to look further, focus more on our business development and aim at achieving even greater heights in the next five years. To take this ahead, for some time now the management team of Sharekhan has been working on Vision 2025, the organisation’s vision for the next five years. The exercise is now complete.

I am pleased to announce today to all of you Vision 2025 for Sharekhan.

Strategic Vision: Become the preferred savings and investment partner for customers who are affluent or emerging affluent and digitally savvy.


  • Client acquisition: Achieve a growth of 2X, from 2.3 million to 4.3 million clients (ie add 50K clients per month).
  • Branding: Position Sharekhan as the best full-service broker – continuously improve the Net Promoter Score.
  • Revenue: Grow by 1.8X, from Rs.6,200 million to Rs.11,000 million.
  • Segmental network approach with dedicated sales and service resources for each segment:
    • Sharekhan One: Increase revenue by 5X, from Rs.80 million to Rs.450 million
    • Super Investor: Grow the revenue contribution by 5X, from 4% to 10% of the overall revenue
    • Active Trader: Grow the revenue contribution by 1.7X, from Rs.3,650 million to Rs.6,260 million
    • Retail: Grow the revenue contribution by 2X, from Rs.750 million to Rs.1,540 million
  • Franchise business: Create a brand value proposition that makes the Business Partners feel proud of associating with Sharekhan.
  • More diversified products: Add pension scheme, insurance, third-party PMS, bonds, debt instruments etc. to the Distribution portfolio and equip clients with them (cross-selling).
  • Diversification of revenue beyond broking: Generate 8% to 25% (from Rs.520 million to Rs.2,800 million) of total revenue from businesses other than broking.
  • Lean organisation: Achieve end-to-end Straight Through Processing (digital and automated) capability.
  • Innovation: Use design thinking and agile methodologies, and adopt a data-driven approach to create value and new client propositions in order to differentiate from competition.
  • Espresso: Innovate digital brokerage and grow substantially the customer base.
  • Governance: Set up a new Business Executive Committee in addition to the existing Sharekhan Executive Committee.

Further, in line with Vision 2025, the Head Office organisation will be restructured as below.

Office of the CEO

As the Chief Executive Officer (CEO) of the company, I will continue to be responsible for the overall company management. I will be assisted by the Chief Business Officer (CBO), Chief Operating Officer (COO), Chief Marketing Officer (CMO) and Chief Information Officer (CIO). In line with the proposed governance structure at Sharekhan, I will preside over the new Business Comex and Extended Comex (see further). I will also continue to manage IT Security directly in addition to overseeing Internal Communications and Corporate Social Responsibility. Compliance (an integrated function) will report to me in functional line while Client Acquisition will move to Network Sales and NPS will move under Central Product & Marketing.

Central Support, Operations & Control

Stefan Groening, COO and currently in charge of all non-integrated functions except IT, will continue in his role of leading the teams to provide a seamless customer journey for our customers and make Sharekhan a good place to work for the employees. Risk and Legal (integrated functions) will continue to have a functional reporting line to him.

Central Product & Marketing

Jean-Christophe Gougeon, CMO, who has been handling Investment Solutions and Brand & Communication will now manage a new function, Product & Marketing, that will support the business strategically by developing the client base, products, channels and campaigns as well as by providing client insights based on qualitative research and data analytics. Accordingly, the Investment Solutions sales team will move to the CBO.

Network Sales

As the acting CBO, I will shoulder the responsibility of managing Network Sales in the interim period till the hiring for the said position is completed. All the front-end sales teams for all businesses will be consolidated under the CBO, including the Investment Solutions and Client Acquisition teams.

Information Technology

Rohit Ambosta, CIO, will be responsible for the IT transformation at Sharekhan. He will be leading the teams working on IT Development and IT Foundation to help the company be truly digital and achieve its objectives of Vision 2025.

All of these changes are with retrospective effect from June 1, 2021 and will be implemented in a phased manner over the next four to five weeks.

The CEO, CBO, COO and CMO will also be directors of the company representing the Sharekhan management in the Company Board; and the organisation’s relations with Personal Investor Corporate (Franciska Decuypere), the Territory (Aymar de Liedekerke Beaufort as of September 1, 2021) and the Group remain unchanged.

Sharekhan Business Comex (frequency – weekly)

  • CEO (Jaideep Arora)
  • CBO (to be hired)
  • COO (Stefan Groening)
  • CMO (Jean-Christophe Gougeon)
  • CIO (Rohit Ambosta)
  • CHRO (Rajesh Shetty)
  • CFO (Satish Nagda)

Sharekhan Comex (frequency – monthly)

  • All members of Business Comex
  • Head of Espresso (R Kalyanaraman)
  • Head of NBFC (Amit Arora)
  • Head of Operations (ad interim – Amit Arora)
  • Head of IT Development (Ketan Parekh)
  • Head of IT Foundation (Amit Vaidya)
  • Head of Sharekhan One (Devang Kamdar)
  • Head of Active Traders Segment (Mustafa Pardiwala)
  • Head of Super Investors Segment (Gautam Kalia)
  • Head of Retail Segment (to be hired)
  • Head of Client Acquisition (Geeta Ramesh)
  • Head of Capital Market Strategy (Gaurav Dua)
  • Head of Compliance (Joby John)
  • Head of Risk (Vinay Madan)
  • Head of Legal (Dipali Dalal)

The portfolios handled by the C-level after the reshuffle are as under:

JD To be hired
Jaideep Arora
CEO, Director
Interim Charge with Jaideep Arora
Chief Business Officer, Director
  • CBO (to be hired, ad interim – Jaideep Arora)
  • COO (Stefan Groening)
  • CMO (Jean-Christophe Gougeon)
  • CIO, IT (Rohit Ambosta)
  • Espresso CEO (R Kalyanaraman)
  • NBFC CEO and Head of Loans (Amit Arora)
  • CCO, Compliance* (Joby John)
  • ITRO, Information Security (Ajinkya Diwan)
  • Internal Communications and CSR (Rajesh Shetty)

Head of the following committees:

  • Business Comex – to meet weekly
  • Comex – to meet monthly
  • Sharekhan One (Devang Kamdar)
  • Super Investor (Gautam Kalia)
  • Active Trader (Mustafa Pardiwala)
  • Retail -- CRE, Onboarding and Dial-N-Trade (to be hired)


  • Branch Business (all Cluster Heads)
  • Client Acquisition – FOS (Geeta Ramesh)
  • Customer Service (ad interim – Geeta Ramesh)
  • Education (Rajesh Vora)
  • Franchisee Acquisition (Hanumanth Rao)
  • Franchisee Servicing (Mehul Dedhia and Anil Balani)
  • Network Management (Mehul Koradia)

Central Experts / Sales Support

  • Capital Market Strategy (Gaurav Dua)
  • Commodity (Jigar Pandit and Dibyendu Sahu)
  • Loan Against Securities (Maryam Bangera)
Stefan JC
Stefan Groening
COO, Director
Jean-Christophe Gougeon
CMO, Director
  • Administration & Procurement (Abhijit Sarkar)
  • Business Compliance (Manish Garg)
  • CFO, Finance (Satish Nagda)
  • CHRO, Human Resources (Rajesh Shetty)
  • Inspection & Controls (Kalpesh Shah)
  • Legal* (Dipali Dalal)
  • Operations (ad interim – Amit Arora)
  • OPC (Hethal Samant)
  • PMO (Amit Toshniwal)
  • CRO, Risk* (Vinay Madan)
  • Risk Monitoring (Mukul Damle)
  • Brand & Communication (Danny Nathani)
  • CRM & Data Analytics (Suyog Kulkarni)
  • Digital Assets and Channels (Chandresh Khona)
  • Digital Marketing (Gaurav Shitak)
  • NPS (to be hired, ad interim – Geeta Ramesh)
  • DIY (Ameet Khambay)
  • Products:
    • Brokerage (to be hired)
    • Investment Solutions (Sadiya Khan)
    • Loans (to be hired)
  • Segment Marketing
    • Retail (to be hired)
    • Trader (to be hired)
    • Investors (Subhayan Banerjee)
Rohit Ambosta  
Rohit Ambosta
  • IT Development (Ketan Parekh)
  • IT Foundation (Amit Vaidya)
*Integrated functions with hierarchical reporting line directly to the BNP Paribas Group

I am sure the reorganisation, the first of the many steps that we will be taking, will propel us closer to Sharekhan’s Vision 2025.

Thank you.

Warm regards,
Jaideep Arora

Published by Team Internal Communications
This newsletter is for internal circulation only. It may not be published, reproduced or quoted in part or in whole, nor may it be published on social media without prior consent. The content is strictly copyright and reproduction of the whole or part of it in any form is prohibited without written permission from the Internal Communications department of Sharekhan.
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