KATHMANDU: Siddhant Raj Pandey, CEO of Ace Development Bank Limited (ADBL), does not consider management skills to be something that can be derived from a textbook. He says, “Such nuances can be picked up only as you move ahead in your career and adapt to the working environment as required.” Having earned his Masters degree in Development Business and Science from
the University of Bristol, UK, Pandey has worked for a
number of reputed financial
institutions like Bloomberg Financial Market, Merrill Lynch International Bank, Riggs Bank in London and New York.
Upon returning to Nepal, Pandey joined ADBL in 2005 as its CEO. According to him, his greatest strength is that he
understands that every individual is different and should be
approached accordingly. He says, “Problems arise when
employees begin to interfere in others’ responsibilities or cannot perform as per expectations.” Pandey, who is also the chairman of Credit Information
Bureau, believes that for a conducive working environment and management of diversified employees, a professional
approach, mapping out of clear succession plan, and providing employees an opportunity to learn and advance their car-
eer counts significantly. He explains, “This helps both the inidividual and company to grow.” ADBL has 160 staffs, operates 12 branches and has a subsidiary named ACE Capital Limited.
As some development banks got into trouble due to financial irregularities in the past, people are beginning to lose faith in them. However, Pandey states, “Effective branding, customers’ faith, diversified risk asset portfolio and accountability are factors that make ADBL one of the leading development banks in the country.” Pandey is proud of the fact that ADBL is the country’s first finance company to upgrade to a development bank, and has the largest IPO in the country. Imagining the banking scenario in the next five years, Pandey says, “ADBL is on its way to convert itself into a commercial bank and as a complete financial service provider.”
Pandey opines that Nepal’s banking system is still in its
embryonic stage. “Banks get bust not only because of the liquidity problem but also due to the hindrances arising from
government rules and reg-
ulations,” he says. Comparing Nepali work culture to that of foreign countries, Pandey says, “It takes time for Nepali regulators to understand new products. Similar is the case with the market, which needs time to
absorb and accept novel ideas. At times, existing regulations even hinder development, while rules abroad are usually more practical and the market has broader scope.” However, he ends on a positive note by
saying, “There has never been a dull moment while working here, and there is lot more to do. It is very challenging and I am learning new things every day.”
Talking about the management of ADBL, Pandey informs, “We have a provision of
bi-annual appraisal for employees with both qualitative and quantitative approaches. ADBL grooms its employees through constant domestic and international trainings and seminars besides updating them with financial technicalities.” According to Pandey, the management welcomes suggestions from employees and implements them where feasible. “We make it a point to extract the maximum potential out of each employee as per their ability,” he sums up.