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+ADw-p style+AD0AIg-font-size:22px+ADs- line-height:28px+ADs- margin:0 +ACE-important+ADsAIgA+ADw-img src+AD0AIg-img/img44.jpg+ACI- alt+AD0AIgAi- width+AD0AIg-349+ACI- height+AD0AIg-103+ACI- /+AD4APA-/p+AD4-
+ADw-div class+AD0AIg-ir-new-content+ACIAPg-
+ADw-div class+AD0AIg-ir-new-content-col1+ACIAPgA8-p+AD4AIg-We are poised to bring about a paradigm
shift in the indian banking sector by setting
up next-gen atms in your neighbourhood,
addressing the latent potential in the underpenetrated
semi-urban and rural atm market
and participating in the difficult task of
promoting household savings and wealth
creation.+ACIAPA-/p+AD4-
+ADw-p+AD4AJg-nbsp+ADsAPA-/p+AD4-
+ADw-p style+AD0AIg-font-size:18px+ADsAIgA+-With Mumbai-based Vakrangee Limited having received a final
authorisation from the Reserve Bank of India (RBI) to roll out 15,000 White
Label ATMs (WLA) in India's hinterland regions, we will soon be witness
to next-gen ATMs in the neighbourhood. With this move, the Company
is on its way to empower millions with the convenience of accessing
funds with ease, understanding their need to take banking to rural and
under-penetrated cities in India. The move marks a major milestone
for India's banking sector as it ushers in a new era of ATM accessibility
for the masses. As per a mandate received from RBI, Vakrangee is in the
process of setting up and managing 50,000 ultra-small bank branches in
the states of Maharashtra, Rajasthan and Delhi. Besides banking, these
branches will also offer Government-to-Customer and Business-to-
Customer services to customers.+ADw-/p+AD4-
+ADw-p style+AD0AIg-font-size:18px+ADsAIgA+ACY-nbsp+ADsAPA-/p+AD4-
+ADw-p style+AD0AIg-font-size:18px+ADsAIgA+ADw-img src+AD0AIg-img/img46.jpg+ACI- alt+AD0AIgAi- width+AD0AIg-494+ACI- height+AD0AIg-620+ACI- /+AD4APA-/p+AD4-
+ADw-p style+AD0AIg-font-size:18px+ADsAIgA+ACY-nbsp+ADsAPA-/p+AD4-
+ADw-p style+AD0AIg-font-size:18px+ADsAIgA+-With this, the Company endeavours to carry forward its objective of
participating in building India's retail financial services infrastructure
and wealth-building potential. This, along with an array of other such
strategic projects, Vakrangee strives to fully leverage technology and
provide basic financial services to India's unbanked and under-banked
areas.+ADw-br /+AD4-
+ADw-br /+AD4-
In a tete-a-tete with+ADw-span style+AD0AIg-font-weight:bold+ADs- color:+ACM-000+ADsAIgA+- IR Connect,+ADw-/span+AD4- its Chief Executive Officer+ADw-span style+AD0AIg-font-weight:bold+ADs- color:+ACM-000+ADsAIgA+- Mr. Santosh
Dash +ADw-/span+AD4-explained the strategy behind the WLA business model better and
how the Company aims to participate in the difficult task of promoting
household savings and wealth creation. Excerpts from the conversation:+ADw-/p+AD4-
+ADw-p style+AD0AIg-font-size:18px+ADsAIgA+ACY-nbsp+ADsAPA-/p+AD4-
+ADw-p style+AD0AIg-font-size:18px+ADsAIgA+ADw-img src+AD0AIg-img/img47.jpg+ACI- alt+AD0AIgAi- width+AD0AIg-494+ACI- height+AD0AIg-142+ACI- /+AD4APA-/p+AD4-
+ADw-p style+AD0AIg-font-size:18px+ADsAIgA+ACY-nbsp+ADsAPA-/p+AD4-
+ADw-table width+AD0AIg-494+ACI- border+AD0AIg-0+ACI- cellspacing+AD0AIg-0+ACI- cellpadding+AD0AIg-0+ACIAPg-
+ADw-tr span style+AD0AIg-font-weight:bold+ADs- color:+ACM-000+ADsAIgA+-
+ADw-td width+AD0AIg-31+ACI- valign+AD0AIg-top+ACIAPg-1.+ADw-/td+AD4-
+ADw-td width+AD0AIg-463+ACI- valign+AD0AIg-top+ACIAPg-What are White Label ATMs (WLAs) and why are they being set
up in India?+ADw-/td+AD4-
+ADw-/tr+AD4-
+ADw-tr+AD4-
+ADw-td valign+AD0AIg-top+ACIAPgAm-nbsp+ADsAPA-/td+AD4-
+ADw-td valign+AD0AIg-top+ACIAPgA8-strong+AD4-Dash:+ADw-/strong+AD4- WLAs are ATMs which are owned and operated by nonbanking
companies and hence do not display any Bank's branding.
These ATMs will aid customers, irrespective of the Bank in which
they hold an account, to access ATMs and undertake various
financial/non-financial transactions. They are intended to serve
as an important medium of banking for consumers and a useful
addition to the existing banking network, thus addressing the underpenetrated
semi-urban and rural market.+ADw-br /+AD4-
+ADw-br /+AD4-
Even though our banks have deployed almost 87,000 ATMs across
India and this is growing at 27+ACU- year-on-year, India is still a highly
under-penetrated ATM market compared with developed nations.
Against 80 ATMs per million of population in India, there are 1,390
in US, 700 in UK and 224 in China. India has been adding an average
of 16,000 ATMs every year in the last five years, but the growth is
largely concentrated only in the urban markets. The RBI's mandate
will ensure banking services are made available in areas where it's
unviable for banks to operate ATMs.+ADw-/td+AD4-
+ADw-/tr+AD4-
+ADw-tr+AD4-
+ADw-td valign+AD0AIg-top+ACIAPgAm-nbsp+ADsAPA-/td+AD4-
+ADw-td valign+AD0AIg-top+ACIAPgAm-nbsp+ADsAPA-/td+AD4-
+ADw-/tr+AD4-
+ADw-tr span style+AD0AIg-font-weight:bold+ADs- color:+ACM-000+ADsAIgA+-
+ADw-td valign+AD0AIg-top+ACIAPg-2.+ADw-/td+AD4-
+ADw-td valign+AD0AIg-top+ACIAPg-How will WLAs benefit India's rural populace?+ADw-/td+AD4-
+ADw-/tr+AD4-
+ADw-tr+AD4-
+ADw-td valign+AD0AIg-top+ACIAPgAm-nbsp+ADsAPA-/td+AD4-
+ADw-td valign+AD0AIg-top+ACIAPgA8-strong+AD4-Dash:+ADw-/strong+AD4- In rural areas, the development of the ATM market is a distant
dream due to reasons such as poverty, illiteracy and lack of regular
income. Banks hesitate in setting up ATMs in rural areas due to high
transactions costs. Hence, there is huge scope to set up more ATMs in
non-urban and non-metro cities. As the ATM network expands, more
and more people will have easy access to cash as customers with an
ATM card can access WLAs. With the expansion of the WLA network,
customers will gain access to basic banking facilities located closer to
their home or place of work.+ADw-/td+AD4-
+ADw-/tr+AD4-
+ADw-tr+AD4-
+ADw-td valign+AD0AIg-top+ACIAPgAm-nbsp+ADsAPA-/td+AD4-
+ADw-td valign+AD0AIg-top+ACIAPgAm-nbsp+ADsAPA-/td+AD4-
+ADw-/tr+AD4-
+ADw-tr span style+AD0AIg-font-weight:bold+ADs- color:+ACM-000+ADsAIgA+-
+ADw-td valign+AD0AIg-top+ACIAPg-3.+ADw-/td+AD4-
+ADw-td valign+AD0AIg-top+ACIAPg-Describe how the model will be executed by non-banking
entities?+ADw-/td+AD4-
+ADw-/tr+AD4-
+ADw-tr+AD4-
+ADw-td valign+AD0AIg-top+ACIAPgAm-nbsp+ADsAPA-/td+AD4-
+ADw-td valign+AD0AIg-top+ACIAPgA8-strong+AD4-Dash:+ADw-/strong+AD4- Non-banking entities are allowed to set up ATMs in their own
brand name, once they pass the stringent qualification and due
diligence process undertaken by RBI. These next-gen ATMs will not
be proprietary to any particular bank. They will not carry a specific
bank's logo, but will be launched under the brand name of the nonbanking
entity. Like in our case, these will be branded as Vakrangee
Mart or V-Mart.+ADw-br /+AD4-
+ADw-br /+AD4-
Customers from any bank in India will be allowed to use the machine
and withdraw cash from WLAs. In short, they can gain quick and
easy access to cash, without having to travel long distances to access
their own Bank's ATM. WLAs will have all the functionalities like
that of a bank-managed cash dispenser and will offer a host of cash
and non-cash services such as cash withdrawals, balance enquiries,
mini statements and PIN change. It will be an effective channel in
inculcating the habit of banking among the rural populace and give
+ACI-financial inclusion+ACI- a shot in the arm. The channel will also provide
last-mile connectivity to the masses in these locations when the
direct money/benefit transfer comes into play.+ADw-/td+AD4-
+ADw-/tr+AD4-
+ADw-tr+AD4-
+ADw-td valign+AD0AIg-top+ACIAPgAm-nbsp+ADsAPA-/td+AD4-
+ADw-td valign+AD0AIg-top+ACIAPgAm-nbsp+ADsAPA-/td+AD4-
+ADw-/tr+AD4-
+ADw-tr span style+AD0AIg-font-weight:bold+ADs- color:+ACM-000+ADsAIgA+-
+ADw-td valign+AD0AIg-top+ACIAPg-4.+ADw-/td+AD4-
+ADw-td valign+AD0AIg-top+ACIAPg-What is your strategy to make the project more viable and
economically competitive? How are we placed in terms of
implementation?+ADw-/td+AD4-
+ADw-/tr+AD4-
+ADw-tr+AD4-
+ADw-td valign+AD0AIg-top+ACIAPgAm-nbsp+ADsAPA-/td+AD4-
+ADw-td valign+AD0AIg-top+ACIAPgA8-strong+AD4-Dash:+ADw-/strong+AD4- We are currently firming up plans to make the venture
viable, negotiating with banks for sponsorship, selecting locations
and analysing competition. The move of setting up WLAs is a
perfect strategic fit for our current business of rural bank branch
management. Under this model, we will set up +ACI-brick and mortar+ACI-
branches (Common Business Correspondents) and run them on
behalf of public sector banks. Real-time bank transactions happen at
these out-sourced PSU banks through seamless integration with core
banking solutions of the respective banks.+ADw-/td+AD4-
+ADw-/tr+AD4-
+ADw-tr+AD4-
+ADw-td valign+AD0AIg-top+ACIAPgAm-nbsp+ADsAPA-/td+AD4-
+ADw-td valign+AD0AIg-top+ACIAPgAm-nbsp+ADsAPA-/td+AD4-
+ADw-/tr+AD4-
+ADw-/table+AD4-
+ADw-p style+AD0AIg-font-size:18px+ADsAIgA+ACY-nbsp+ADsAPA-/p+AD4-
+ADw-p style+AD0AIg-font-size:18px+ADsAIgA+ADw-img src+AD0AIg-img/img48.jpg+ACI- alt+AD0AIgAi- width+AD0AIg-494+ACI- height+AD0AIg-481+ACI- /+AD4APA-/p+AD4-
+ADw-/div+AD4-
+ADw-div class+AD0AIg-ir-new-content-col2+ACIAPg-
+ADw-p style+AD0AIg-font-size:18px+ADs- margin-top:160px+ADsAIgA+ADw-table width+AD0AIg-494+ACI- border+AD0AIg-0+ACI- cellspacing+AD0AIg-0+ACI- cellpadding+AD0AIg-0+ACIAPg-
+ADw-tr+AD4-
+ADw-td colspan+AD0AIg-2+ACI- valign+AD0AIg-top+ACIAPgA8-img src+AD0AIg-img/img49.jpg+ACI- alt+AD0AIgAi- width+AD0AIg-494+ACI- height+AD0AIg-139+ACI- /+AD4APA-/td+AD4-
+ADw-/tr+AD4-
+ADw-tr+AD4-
+ADw-td valign+AD0AIg-top+ACIAPgAm-nbsp+ADsAPA-/td+AD4-
+ADw-td valign+AD0AIg-top+ACIAPgAm-nbsp+ADsAPA-/td+AD4-
+ADw-/tr+AD4-
+ADw-tr+AD4-
+ADw-td valign+AD0AIg-top+ACIAPgAm-nbsp+ADsAPA-/td+AD4-
+ADw-td valign+AD0AIg-top+ACIAPg-We will essentially be market creators as we shall create our own
ATM card base +AOIAgACT- a critical success factor for the WLA project. Through
our model of setting up ultra-small bank branches, we already have
a sufficient card base. Once we open an ultra-small bank branch
in a particular location, we automatically gain access to all the
beneficiaries in that catchment area by virtue of providing them
with a bank account. Furthermore, these account-holders enter
the +ACI-Aadhaar-enabled payment system+ACI- enabled (AEPS-enabled)
transactions at our WLAs by getting their bank accounts seeded with
their Aadhaar number.+ADw-/td+AD4-
+ADw-/tr+AD4-
+ADw-tr+AD4-
+ADw-td valign+AD0AIg-top+ACIAPgAm-nbsp+ADsAPA-/td+AD4-
+ADw-td valign+AD0AIg-top+ACIAPgAm-nbsp+ADsAPA-/td+AD4-
+ADw-/tr+AD4-
+ADw-tr style+AD0AIg-font-weight:bold+ADs- color:+ACM-000+ADsAIgA+-
+ADw-td width+AD0AIg-31+ACI- valign+AD0AIg-top+ACIAPg-5.+ADw-/td+AD4-
+ADw-td width+AD0AIg-463+ACI- valign+AD0AIg-top+ACIAPg-Please share your region-wise execution plan on WLAs?+ADw-/td+AD4-
+ADw-/tr+AD4-
+ADw-tr+AD4-
+ADw-td valign+AD0AIg-top+ACIAPgAm-nbsp+ADsAPA-/td+AD4-
+ADw-td valign+AD0AIg-top+ACIAPgA8-strong+AD4-Dash:+ADw-/strong+AD4- As per RBI's guidelines for WLAs, we are mandated to set up a
minimum of 15,000 WLAs in three years. Our region-wise execution
plan for WLAs will comply with RBI's requirement to maintain a ruralto-
urban ratio of 2:1, i.e. for every 2 WLAs set up in Tier 3-6 towns, one
WLA will be set up in Tier 1-2 towns. Further, out of the WLAs setup
in Tier 3-6 towns, a minimum of 10 +ACU- will be set up in Tier 5-6 towns.
So in all, we will have 5,000 WLAs in Tier 1-2 towns, 9,000 in Tier 3-4
towns and 1,000 WLAs in Tier 5-6 towns. This will ensure we can
successfully widen the reach of financial services in rural areas and
hinterlands.+ADw-/td+AD4-
+ADw-/tr+AD4-
+ADw-tr+AD4-
+ADw-td valign+AD0AIg-top+ACIAPgAm-nbsp+ADsAPA-/td+AD4-
+ADw-td valign+AD0AIg-top+ACIAPgAm-nbsp+ADsAPA-/td+AD4-
+ADw-/tr+AD4-
+ADw-tr style+AD0AIg-font-weight:bold+ADs- color:+ACM-000+ADsAIgA+-
+ADw-td valign+AD0AIg-top+ACIAPg-6.+ADw-/td+AD4-
+ADw-td valign+AD0AIg-top+ACIAPg-What makes you so uniquely positioned to face the inherent
challenges in project execution of WLAs?+ADw-/td+AD4-
+ADw-/tr+AD4-
+ADw-tr+AD4-
+ADw-td valign+AD0AIg-top+ACIAPgAm-nbsp+ADsAPA-/td+AD4-
+ADw-td valign+AD0AIg-top+ACIAPg-We are uniquely positioned to address several challenges in
setting up WLAs and running them in sub-Tier 3 towns. Let's see how:+ADw-/td+AD4-
+ADw-/tr+AD4-
+ADw-tr+AD4-
+ADw-td valign+AD0AIg-top+ACIAPgAm-nbsp+ADsAPA-/td+AD4-
+ADw-td valign+AD0AIg-top+ACIAPgAm-nbsp+ADsAPA-/td+AD4-
+ADw-/tr+AD4-
+ADw-tr+AD4-
+ADw-td valign+AD0AIg-top+ACIAPg-a.+ADw-/td+AD4-
+ADw-td valign+AD0AIg-top+ACIAPgA8-strong+AD4-ATM Card Base+ADw-/strong+AD4-: Being a common Business Correspondent for
multiple PSU banks, we can set up bank branches at the desired
locations and create an account base in the catchment area to be
able to run our WLA business successfully.+ADw-/td+AD4-
+ADw-/tr+AD4-
+ADw-tr+AD4-
+ADw-td valign+AD0AIg-top+ACIAPgAm-nbsp+ADsAPA-/td+AD4-
+ADw-td valign+AD0AIg-top+ACIAPgAm-nbsp+ADsAPA-/td+AD4-
+ADw-/tr+AD4-
+ADw-tr+AD4-
+ADw-td valign+AD0AIg-top+ACIAPg-b.+ADw-/td+AD4-
+ADw-td valign+AD0AIg-top+ACIAPgA8-strong+AD4-Cash Management+ADw-/strong+AD4-: Cash management and replenishing the ATM
machines in hinterland regions is a huge challenge due to security
issues and high logistics cost. Since we are already operating
+ACI-brick and mortar+ACI- ultra-small bank branches in these areas, at any
given point in time we will maintain a sufficient cash float at these
branches. This will help us efficiently manage the cash replenishment
in ATM machines, thus reducing the logistics issues and risks.+ADw-/td+AD4-
+ADw-/tr+AD4-
+ADw-tr+AD4-
+ADw-td valign+AD0AIg-top+ACIAPgAm-nbsp+ADsAPA-/td+AD4-
+ADw-td valign+AD0AIg-top+ACIAPgAm-nbsp+ADsAPA-/td+AD4-
+ADw-/tr+AD4-
+ADw-tr+AD4-
+ADw-td valign+AD0AIg-top+ACIAPg-c.+ADw-/td+AD4-
+ADw-td valign+AD0AIg-top+ACIAPgA8-span style+AD0AIg-font-weight:bold+ADs- color:+ACM-000+ADsAIgA+-Financial Inclusion through UID Enrolment:+ADw-/span+AD4- All WLAs set up
by us will be AEPS-enabled, further adding to the number of UID
enrolment in India.+ADw-/td+AD4-
+ADw-/tr+AD4-
+ADw-tr+AD4-
+ADw-td valign+AD0AIg-top+ACIAPgAm-nbsp+ADsAPA-/td+AD4-
+ADw-td valign+AD0AIg-top+ACIAPgAm-nbsp+ADsAPA-/td+AD4-
+ADw-/tr+AD4-
+ADw-tr+AD4-
+ADw-td valign+AD0AIg-top+ACIAPg-d.+ADw-/td+AD4-
+ADw-td valign+AD0AIg-top+ACIAPgA8-span style+AD0AIg-font-weight:bold+ADs- color:+ACM-000+ADsAIgA+-Saving on Costs:+ADw-/span+AD4- Given that all the WLAs set up will be AEPSenabled,
the people accessing our WLAs will not require an ATM
card for financial/non-financial transactions. By getting their bank
accounts seeded with Aadhaar number, these account holders can
use the WLAs through biometric evaluation, thus reducing the cardissuance
costs. The AEPS-enabled card-less transactions at our WLAs
will be a global first in the history of WLA industry.+ADw-/td+AD4-
+ADw-/tr+AD4-
+ADw-tr+AD4-
+ADw-td valign+AD0AIg-top+ACIAPgAm-nbsp+ADsAPA-/td+AD4-
+ADw-td valign+AD0AIg-top+ACIAPgAm-nbsp+ADsAPA-/td+AD4-
+ADw-/tr+AD4-
+ADw-tr span style+AD0AIg-font-weight:bold+ADs- color:+ACM-000+ADsAIgA+-
+ADw-td valign+AD0AIg-top+ACIAPg-7.+ADw-/td+AD4-
+ADw-td valign+AD0AIg-top+ACIAPg-What role will Sponsor Banks play in the overall project?+ADw-/td+AD4-
+ADw-/tr+AD4-
+ADw-tr+AD4-
+ADw-td valign+AD0AIg-top+ACIAPgAm-nbsp+ADsAPA-/td+AD4-
+ADw-td valign+AD0AIg-top+ACIAPg-Dash: Sponsor Banksare essentially +ACI-Settlement Banks+ACI- to settle
service transactions. They will be responsible for functions such as
cash operations and management, dispute resolution management
and reporting to regulators. Since cash is sourced from the Sponsor
Bank, it ensures quality and genuineness of notes dispensed. These
Sponsor Banks also benefit from the move as they can provide 24/7
service to their account holders, driving the agenda of financial
inclusion. The account holders of Sponsor Banks will also get the
added advantage of value-added services (insurance, recharge,
coupons) provided at the ultra-small bank branches.+ADw-/td+AD4-
+ADw-/tr+AD4-
+ADw-tr+AD4-
+ADw-td valign+AD0AIg-top+ACIAPgAm-nbsp+ADsAPA-/td+AD4-
+ADw-td valign+AD0AIg-top+ACIAPgAm-nbsp+ADsAPA-/td+AD4-
+ADw-/tr+AD4-
+ADw-tr+AD4-
+ADw-td colspan+AD0AIg-2+ACI- valign+AD0AIg-top+ACIAPgA8-img src+AD0AIg-img/img50.jpg+ACI- alt+AD0AIgAi- width+AD0AIg-494+ACI- height+AD0AIg-357+ACI- /+AD4APA-/td+AD4-
+ADw-/tr+AD4-
+ADw-tr+AD4-
+ADw-td valign+AD0AIg-top+ACIAPgAm-nbsp+ADsAPA-/td+AD4-
+ADw-td valign+AD0AIg-top+ACIAPgAm-nbsp+ADsAPA-/td+AD4-
+ADw-/tr+AD4-
+ADw-tr span style+AD0AIg-font-weight:bold+ADs- color:+ACM-000+ADsAIgA+-
+ADw-td valign+AD0AIg-top+ACIAPg-8.+ADw-/td+AD4-
+ADw-td valign+AD0AIg-top+ACIAPg-With setting up of WLAs, what change do we foresee in India's
BFSI sector?+ADw-/td+AD4-
+ADw-/tr+AD4-
+ADw-tr+AD4-
+ADw-td valign+AD0AIg-top+ACIAPgAm-nbsp+ADsAPA-/td+AD4-
+ADw-td valign+AD0AIg-top+ACIAPgA8-strong+AD4-Dash:+ADw-/strong+AD4- Being in a uniquely advantageous position, we are fully
geared to gain the +ACI-first mover+ACI- advantage in India's grossly underserved
sub-Tier 3 ATM market. We provide a bouquet of other valueadded
services in banking, direct benefit transfer, insurance, pension,
G2C and B2C at each ultra-small bank branch and WLA location. This
ensures we are able to maximise customer experience under a single
roof. Our target is to add +AGA- 2,600 crore in the next four years from the
WLA business alone. Setting up of these will result in a paradigm shift
in India's BFSI sector. For instance, our Vakrangee Marts will be a +ACI-onestop
shop+ACI- enabling customers to conduct their banking +ACY- financial
needs. With India's ATM population expected to touch 400,000 by
2017, our initiative is to usher the country into a new era of ATM
accessibility.+ADw-/td+AD4-
+ADw-/tr+AD4-
+ADw-tr+AD4-
+ADw-td valign+AD0AIg-top+ACIAPgAm-nbsp+ADsAPA-/td+AD4-
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+ADw-div class+AD0AIg-advise-cont+ACIAPg-
+ADw-h2+AD4-Tarquin Edwards+ADw-/h2+AD4-
+ADw-h2+AD4-Director (Peckwater Dickenson Limited, UK)+ADw-/h2+AD4-
+ADw-h2+AD4-Member, Advisory Council+ADw-/h2+AD4-
+ADw-p+AD4-Tarquin has a Masters degree from Oxford University (Christ Church) in Byzantine Studies and has a BA Hons degree from the University of London (Royal Holloway) in Ancient and Medieval History. He founded Peckwater PR in 2009 following over 15 years in the City of London in the financial PR industry. He has advised on a large number of M+ACY-A and IPO transactions as well as providing crisis communications and litigation support. He has considerable experience co-ordinating and implementing media and IR campaigns for mid to smaller quoted and privately owned companies. He was a principal in the team voted financial PRs of the year in 2006. Tarquin's earlier career at other agencies has encompassed Dewe Rogerson, Millham Communications, Holborn PR, Binns +ACY- Co and Adventis Financial PR (part of the Adventis Group plc), out of which Peckwater was borne following an MBO. Prior to entering the world of financial PR, Tarquin began his career in the Fine Art world, working for Wildenstein +ACY- Co Ltd, the international fine art dealers.+ADw-/p+AD4-
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