But contrary to expectations, the Moraraka family is starting afresh on the back of a 100-year plus broking experience. And while it has no intention of wooing back its employees who currently come under the HSBC banner, it will definitely go all out to revive the empanelment of institutions thus, sending out a clear message that it is very much in the ring. We have always been institutionalbrokers. We do not know retail broking. Well nothing unusual.
Sources say that the Asian crises was an eye-opener to theIndian partner.
Let's face it, the Indian broking venture was but a small speck in the HSBC group's global presence and like in other cases witnessed recently, could be closed down one fine morning. The same was not the case for the Indian partner for whom the venture was bread and butter. But that is definitely not the end of the story.