Aly Khan Satchu's Biography
Aly-Khan Satchu was born in Mombasa , read Law at the University of Durham and worked for 15 years in the City Of London . He ran global trading desks for Credit Suisse First Boston (Emerging Markets) and lived through the financial crisis in Latin America in 1994 at a time when he had lent more than $2 billion in that market.
In 1995, Aly-Khan took 9 traders and joined Sumitomo Bank as an MD reporting to the Chairman Konishi San. At the peak the balance sheet that Aly-Khan controlled for the Bank was in excess of $ 17 billion.
From 1998-1999 Aly-Khan was the Treasurer and Director of all collateralized lending at ANZ Investment Bank.
Finally, Aly-Khan was an Executive Director at Dresdner Kleinwort Wasserstein in charge of Emerging Market Financing and Short Term Interest rates. During his time in various banks Aly-Khan has been given significant proprietary trading limits. He has traded nearly all instruments- Futures, Options, Repos, Bills and Bonds, Basis trading et al.
Since 2003 Aly-Khan has been trading his own funds primarily Commodities (particularly Oil) Currency Futures and Options, Equity Indices and Single Stocks.
For the last three years, Aly-Khan has been an active Investor at the Nairobi Stock Exchange, The USE and various other African Stockmarkets. He arrived in Nairobi in August 2006 and published his book "Anyone Can Be Rich" based on the NSE and the Kenyan Economy.
When he was only 27- years -old, Aly Khan Satchu was appointed director of Global Business at Sumitomo Bank in London.
That was the culmination of a combination of epic self-drive, guts and determination that had always been his philosophy from a tender age.
Aly is a common fixture on Al Jazeera, CNBC, CNN and a host of other local and international media outlets where his incredible understanding of economics, investments and financial markets is highly sought.
The story behind his achievements is as unconventional as the man is today. After studying law at the University of Durham, Aly suddenly decided he did not want to become a lawyer.
Instead, the man chose a field that had always fascinated him as a boy – investment banking.
“It started as an innocent fascination for numbers which I loved to memorise. As I grew older, I developed a keen interest in the performance of the financial markets,” says Aly.
After university, Aly was so desperate to get a foothold in the financial markets that he accepted the lowest job that he got.
“It was a clerical assistant’s job at Credit Suisse and it was an incredible challenge,” he says, adding that he nevertheless approached his new job with so much gusto that he was promoted within the year.
It was however too little for the ambitious Aly Khan who quickly realised it would take a long time for him to ascend to the high office that he so much craved.
“I wanted to play with numbers and for that, I could have given anything,” he tells the Business Daily.
He did get a chance and while most would have hesitated, he swooped for it eagerly. “I was asked by my immediate superior to take a certain document to the vice chairman for a signature. I could not even wait for the lift, I ran up the stairs and there was Mr Joan Becke.
This was a man so powerful within the investment banking circles that a small wag of his little finger could have got me fired in an instant.
On the other hand, his high authority meant that he was just about the best chance I could ever get to the top.”
Aly requested Mr Becke to allow him 10 minutes of his time.
“He looked baffled and curious at the same time. He ushered me to a seat and I straight away hit him with the direct question of how much his brokers were making.
I already knew they were on crazy money but I could not believe they made such phenomenal figures,” says Aly of the $2 million a year salaries brokers were making then.
Aly then requested Mr Becke to give him the broker’s job for the same six dollar an hour he was making at the clerical section. He also asked to be fired if his performance was deemed unsatisfactory.
Aly did so well that in only three months, his job was confirmed with all the perks to boot. But Aly could not stop.
“Brokers had the minimum annual target of one million dollars. In only my first full year, I had blown the Credit Suisse annual performance record straight off the water,” says Aly, who attributes his sterling performance in life to being brave and working hard.
“When you have a focused mind, when you have no frills about putting in a shift, nothing is impossible,” says Aly, who now runs Rich Management, a vehicle he uses to manage his own money.
He is also an NSE licensed data vendor and has a website which gives real time trends as they happen at the exchange. His investments are expansive and varied.
“Primarily, I am a money market investor.
Forex, when well mastered, is the best bet to make an investor a lot of money in this cyber age,” he informs the Business Daily.
“I also buy gold, silver and some carefully selected stocks in all the main stock markets in the world.” Satchu believes that anybody who has a well structured strategy can excel in the world of investing.
Have a master plan
“Warren Buffet was doing newspaper rounds as a boy. When he was only 11, he bought his first 3 shares in the City Service Corporation. Because he started small, was focused and he had no unrealistic expectations, he is now amongst the world’s richest men.
But you mostly see people come into the market without a strategy and with a crazy expectation of becoming overnight millionaires. Yes, I know a guy who sold a cow and is today a multi-millionaire. But he came in with a master plan and that is the ultimate basic,” he says.
Aly could not reveal his fortune but industry sources claim he is playing in at least the hundreds of millions league. That, for a guy who was only a decade or so ago breaking his back as a clerical assistant is very impressive indeed.
At only 45, he feels he is only just beginning; “I do not feel like I have done anything yet,” he says.
“If you look at the amount of money that is changing hands out there, you have to aim for billions to be a serious investor.”
His advice on what makes a successful investor; “Do your research well and ignore all the hype. If I were buying my first shares now, I would only consider new markets like Rwanda where the opportunities for future growth are massive.
I would also look to invest in the forex markets where the opportunities for good returns are much better than stocks. Most of all, I would only spend less than I earn”.
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