''South Asians on Wall Street'' Offers Role Models, Career Advice and a Primer on Professional Development to 400.

NEW YORK -- First-Ever Forum Features Senior-Most South Asian Business Leaders; Merrill Lynch's INDO Professional Network Hosts Event

"South Asians on Wall Street," an unprecedented gathering of some 400 South Asian professionals from six financial services giants, presented candid career advice and professional direction from some of the senior most South Asian financiers on Wall Street today. Created and hosted by the Merrill Lynch INDO Professional Network, the event drew a standing room only audience of executives ranging from Associate to Managing Director.

"This is a milestone convening of South Asian professionals, and demonstrates the power of a unique forum such as this for creating opportunities for recruiting, networking, mentoring, friendships and even business development," said Paul W. Critchlow, Counselor to Merrill Lynch Chief Executive Officer Stan O'Neal and Vice Chairman of Public Markets, and Executive Sponsor of the INDO Professional Network at Merrill Lynch.

"This event illustrates the enthusiasm we see among South Asian professionals to forge successful career paths, learn leadership traits, and meet their peers from across Wall Street," added Jyoti Chopra, Director, South Asian Business Development at Merrill Lynch, and moderator of the event.

Featured panelists, all from the top of their fields, represented a cross-section of industries, specialties and education. They were:

--Rohit D'Souza, Managing Director and Head of Global Equity Trading, Merrill Lynch

--Subodh Karnik, Managing Director, Global Currency and Commodity Group, JPMorgan Chase 

--Ravi Mattu, Managing Director, Head of Global Fixed Income Research, Lehman Bros 

--Vikrant Sawhney, Managing Director, Financial Sponsors Group, Deutsche Bank 

--Ravi Sinha, Managing Director, Investment Banking Division, Goldman Sachs 

--Philip S.Vasan, Managing Director, Head of Global Prime Services, Credit Suisse First Boston 

"We are honored to present speakers of this caliber and level of accomplishment to our South Asian colleagues and networks," said Sejal Lakhani, head of the Merrill Lynch INDO Professional Network in New York and a key organizer of the event.

Throughout the evening the panelists delivered consistent themes on the importance for every individual to consistently challenge oneself, follow one's passion for the work, contribute as an effective team member and pursue long-term goals rather than short-term gains.

Innovation and lightning-speed change are the lifeblood of the financial services industry, the panelists pointed out, requiring professionals to seek out new ways to reach out of their "comfort zones" to individuals, divisions and business opportunities.

"Learn constantly, take risks, and act with integrity," said Merrill Lynch's Rohit D'Souza, who is responsible for all trading and sales-trading activities for cash equities, equity-linked products, strategic trading, and all of the firm's global equity financing and services businesses. He noted the importance of thinking like an entrepreneur within a firm. "Business cycles are so quick. You can see a product come up, peak, and then falter in a relatively short period -- and so innovation is extremely critical," he added.

"Working at the edge of the box is a way to add value and differentiate yourself and your team," said CSFB's Philip S.Vasan, who was one of several panelists to cite the impact that hedge funds have had on business. Mr. Vasan ran CSFB's Global Foreign Exchange and Global Equity Derivatives and Convertibles businesses before leading Prime Services. "Don't be overly dependent on any one manager," he added, "Think of a boss as your training wheels, helping you learn to ride on your own."

Vikrant Sawhney, of Deutsche Bank, said that finding mentors is critically important, but that they don't always come from formal mentoring networks. "Seek out mentors from other areas. This helps you to broaden your thinking. Where you would like to be five years out? Do you need to get experience abroad or in different business lines?" His training as a Wall Street attorney provided him with "a more holistic view of how transactions worked." He now assists financial sponsors in finding new investment opportunities, financing acquisitions and monetizing their shareholdings.

Ravi Mattu, of Lehman Brothers, pointed out the importance of revealing one's goals and interests in the office. "Your management should know what makes you tick. Don't be enigmatic - be clear about what you would like to do." Mr. Mattu, who himself valued role models early in his career and now has responsibility for Global Economics, Strategy, Credit Research, and Quantitative Research & Analytics, urged the audience to "pursue your passion. You have to love the job you have; it cannot be about short-term goals of compensation."

"Think of yourself as an entrepreneur within a large corporation," said Ravi Sinha, who is currently Co-Head of the Industrials Business within the Investment Banking Division at Goldman Sachs. "Take full and creative advantage of the benefits of the organization, but challenge yourself to stay ahead of the game. If you can consistently deliver and gain the confidence of your colleagues, you can do anything. And keep your determination - never give up!"

Subodh Karnik, of JPMorgan Chase, emphasized the importance of "a lifelong work ethic, an interest in mathematics, and the willingness to be humble." He also acknowledged his employers for "indulging my curiosity and letting me do what I have wanted to do." He currently runs Hedge Fund Sales in New York for the Global Currency and Commodity Group and prior to that was responsible for exotic structuring in FX and commodities.

Merrill Lynch is one of the world's leading financial management and advisory companies with offices in 36 countries and territories and total client assets of approximately $1.6 trillion. As an investment bank, it is a leading global underwriter of debt and equity securities and strategic advisor to corporations, governments, institutions, and individuals worldwide. Through Merrill Lynch Investment Managers, the company is one of the world's largest managers of financial assets. Firmwide, assets under management total $478 billion. For more information on Merrill Lynch, please visit www.ml.com.