CEO Insights Magazine

Our thoughts and actions are often shaped by the foundations of our education, for it is within the institutions that visionaries are nurtured to drive the future. Within its walls, exceptional minds are cultivated, empowered to impact and transform the world around them. Today, we embark on a journey with such a noteworthy elite from INSEAD, Capt. Ajay Prasad, MD & Partner at Brand Marine Consultants. From cadet to master mariner, and now a successful business leader, Capt. Ajay has skillfully navigated the maritime industry and seamlessly transitioned into business leadership. His dynamic and adaptive approach is a true inspiration for young leaders. In this exclusive conversation, CEO Insights Asia explores his journey, future business plans, and invaluable wisdom.

Could you share your professional background and experiences in brief?

I began my career in the merchant navy, starting as a cadet in 1993. Over time, I became a master mariner, captaining several ships before transitioning to a shore-based role. I last sailed with a Norwegian firm with a management office in Singapore. Also, held various positions including heading operations for Eitzen Chemical.

Wanting to pursue further education, I did an MBA at INSEAD France. After graduating, I joined a US-based salvage company that was focusing on expanding its operations in Asia and beyond. This role involved responding to ship casualties, fires, and wrecks, taking me across the globe from South America to the Caribbean, Africa, New Zealand, Asia, and Europe.

After six years, I co-founded the Singapore unit of Germany-based Brand Marine Consultants. We now have offices in China, India, Dubai, Florida and London.

Our team provides salvage consultancy, casualty management, marine accident investigations, and arbitration services to ship insurers, owners, and governments. As Special Casualty Representatives, my colleagues and I are part of a global panel of experts assisting in situations like oil spills and vessel collisions. Our niche industry may be small, but it is highly specialized, with few competitors worldwide.

Tell about unique experiences INSEAD France offers and what you learned from the campus beyond academics?

Life at INSEAD was truly transformative for me. I was already in a senior role as a master mariner and heading the Singapore office when I enrolled in the Global Executive MBA program. I was surrounded by fellow executives and professionals from diverse fields, which was quite different from my sailing background.

One of the most eye-opening aspect was the diversity in leadership styles that I encountered. At INSEAD, there's a strong emphasis on entrepreneurial thinking, organizational culture, and leadership. Coming from a navy background, my leadership style had been quite authoritarian—something common in the role of a ship captain. However, my time at INSEAD made me reevaluate this approach. Through interactions with classmates and the leadership modules, I began to appreciate the value of different leadership styles. Engaging with classmates who had varied leadership styles allowed me to explore and refine my own approach, leading to a more adaptable and inclusive leadership style.

This shift has been invaluable in my current role, especially when leading teams during complex casualty management situations. Often during an emergency, we must coordinate efforts among 50 to upto 500 people from different organizations, cultures, and backgrounds. Understanding diverse organizational cultures and leadership styles has enabled me to navigate these challenges more effectively.

Additionally, the negotiation skills I gained at INSEAD have proven extremely beneficial in my daily work. They have equipped me with strategies to handle negotiations and conflicts, which are crucial in the high-stakes environment of casualty management.

What is the future roadmap you have envisioned for yourself over the next five years?

We're at a very pivotal stage of growth right now. Our company is relatively young, having just celebrated its 10th anniversary in March 2024, with the Singapore office being around nine years old. The journey ahead is focused on steady and sustainable expansion.

However, as we operate in a very niche industry, our expansion is somewhat constrained. We are cautious not to expand too rapidly because the quality of our work is paramount, and even small mistakes can have significant consequences. The risks associated with rapid expansion are too high, so we aim to grow steadily and deliberately.

As we expand, it's crucial to ensure that the right training is provided to our staff and that we select the right people and assets to join our team. The last 10 years have been a period of growth and establishment, and now we are in a stable position. Looking ahead, the next five years will be exciting as we explore new regions where we haven't worked before and continue to build our presence.

What advice would you offer to the next generation of leaders?

In today's rapidly evolving industry, one fundamental piece of advice is to learn effective communication. In our field, the ability to understand and interact with the teams, contractors, and stakeholders we work with is crucial to success.

Clear and efficient communication during a high-stake operation can make all the difference between success and failure. It not only streamlines processes but also fosters better collaboration and quicker problem-solving. That's why, in every project I lead, I focus heavily on fostering strong communication channels. This approach not only improves efficiency but also builds trust and ensures that everyone is aligned and pulling in the same direction.

For me, effective communication is at the core of every project. Investing time and effort into developing this skill can be a game-changer.

Capt. Ajay Prasad, Managing Director & Partner, Brand Marine Consultants

Capt. Ajay holds extensive experience in managing complex and high-stress situations in his work. His ability to tailor his leadership strategies to the unique demands – whether dealing with immediate emergencies or long-term recovery projects – has been instrumental in steering Brand Marine through various challenges.