Entry of foreign players, esp. "bulge-bracket" banks

Once there was East India Company. Now there is Goldman Sachs and Lehman Brothers, rounding off the "Circle of Life".

The road opened by the entry of Lehman Brothers in Indian B-schools (read IIMA), was turned into well trodden path by other Foreign companies. In 1998, Lehman came out to select only 2-3 and ended up with five offers, given the students' calibre! Same story was repeated at other IIMs wherever Lehman went. Over the period of time, all IIMs have reached the same level. Nowhere is this more evident than in recent BT rankings, where IIMB did what was unthinkable a few years ago, and displaced IIMA from top rank. Presence and contributions of IIMs alumni was being recognised at these Wall Street "bulge-bracket" banks. Next logical step was that these US Banks start recruiting from these campuses.

And then, there was "Trickle Down" effect. From only IIMA in 1998, Lehman went to IIMC and IIMB in 2000, and XLRI in 2001. Thus, overall US Banks would move towards other B-schools apart from IIMs.

World's leading names such as Goldman Sachs, Lehman Brothers, Deutsche Bank Global, Dresdner Kleinwort Wasserstein(DKW), JP Morgan, Mckenna Consulting, were all here. There were new stars on the horizon too, like Cognizant Technology solutions, Seranova, Marakon Associates, Orbit e-consulting, Handelsbanken, Capital One, iMaritime, BristleCone, among others.

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