Rahul Khasgiwale, CFA, CAIA
CFA Charterholder since: 2009
Education: (i) Bachelor of Medicine and Bachelor of Surgery; (ii) Bachelor of Medical Sciences (Physiology & Pharmacology), both from University of Nottingham, U.K.
Industry footprint: Global multi-manager experience / opening the multi-manager business for HSBC in the Middle East
Day-to-day motivation: Increasing personal wealth and knowledge
Life’s passions: Travel and family

When you first arrived here in March 2008, what were some of your first impressions of Canada and of our financial industry? How did it all compare to other markets you’ve worked in previously?

Rahul Khasgiwale: When I flew into Toronto in March 2008 it was on a weekend which saw one of the worst snowstorms in many years, so I wondered if I had made a sensible move. Extreme weather aside, first impressions of Canada and the financial industry were really positive.

I think it’s immediately apparent to anyone coming to Canada that the financial industry here is well regulated and also more conservative than many other markets. Tier one capital targets, quality of capital and corporate leverage ratios are good examples of this. As well, the Canadian banks are well run and seem to stick to traditional banking without over-engineering. I guess the proof statement for the sound nature of the financial industry really came through when there was no government-sponsored bailout during the credit crisis. I think the conservative theme is an important one for Canada as it also speaks to the people, who on the whole are better savers and less prone to high levels of leverage than in many other places.

On the people front, I was also taken aback by the multicultural population in Toronto and Vancouver, and also the diversity in the workplace. I know first-hand that diversity in the workplace is a very important focus for HSBC in Canada.

Another thing that surprised me was the skewed nature of the Canadian equity market, with three sectors making up the majority of the index!

Please tell our readers about your unique career path, and what prompted you to pursue the CFA designation?

RK: In my former life, I was a practicing medical doctor in the U.K. My curiosity and passion for finance eventually led me to take the plunge and convert to a career in banking, and I joined HSBC in 2001 as a global investment banking and markets graduate.

Since 2002, I’ve been part of the global multi-manager team within HSBC Global Asset Management. I’ve been fortunate to have experienced a rewarding international career based in four different countries (U.K., Switzerland, UAE and now Canada) and in a variety of interesting roles, from manager of research to multi-manager business development. In my current role I am involved in client development and servicing across retail and institutional channels in Canada, the U.S. and Bermuda.

Undertaking the CFA designation meant a number of things to me personally. I wanted to develop my investment knowledge to a high standard, given my previous medical background. I also wanted to earn the credibility with peers and be exposed to the career opportunities associated with holding the designation.

What would you say was your biggest professional achievement?

RK: That’s an easy one, it was passing level 3 of the CFA program, earning my Chartered Alternative Investment Analyst (CAIA) designation and becoming a father, all in the space of three months! As well, opening the multi-manager business for HSBC Global Asset Management in the Middle East in 2005 was a huge personal achievement. There were many challenges, from moving to a new country, establishing a new line of business, and working through local challenges and requirements.

What career advice would you give to the new charterholders just starting out in our business?

RK: New charterholders should take advantage of the many benefits available to them. In my mind, there’s absolutely no doubt that holding the CFA designation opens up more career opportunities. Therefore it may be the perfect time to consider switching into a career, such as research or portfolio management where the CFA designation is relevant and often required. Alternatively it’s an opportunity to think about applying for a more senior position with the extra qualification.

I would also really encourage new charterholders to take advantage of the networking opportunities available through the local CFA societies and CFA Institute. We are in a people business where successful networking and having a wide base of contacts is key to sources of expertise and guidance – who you know in the industry counts, and can potentially provide career enhancing opportunities.

Finally, credibility and trust are given to charterholders both within an organization and by clients. That should not be taken for granted, and therefore maintaining high levels of ethical and moral standards is extremely important. It’s even more critical given the recent events in the global economy and the challenges placed on all of us to protect the reputation and credibility of the industry going forward.

What excites you outside of work, to balance out your demanding career responsibilities?

RK: It’s important to balance a successful career with extracurricular activities. On a personal level, my family life is extremely important to me, and I am fortunate to have two young boys who keep me fit and relaxed after work (most of the time!).

Travel has always been an important part of my life and I am fascinated by the emerging market countries in particular. I have visited many places in Europe, Africa, Asia and the Middle East, and was engaged by the people, culture and vibe of India and China in particular. These economies also offer great investment opportunities going forward given their trends, demographics and growth prospects and therefore it’s a bonus to be able to leverage my passion for travel into business insights. I am confident these economies and opportunities will play a more important role in Canada going forward.

Charterholder Profile is a regular feature of The Analyst. Do you have suggestions for members that we should profile? Email us with the member’s name and a few sentences about who he/she is and why this person would make an interesting choice for a profile. TheAnalyst@torontocfa.ca