Yes Bank, India’s newest private bank, is on the look out for acquisitions. The bank founder and CEO Rana Kapoor told a national newspaper that it has two banks on their acquisition radar and they are in the Southern region. He told Hindustan Times: “We have been presented with some interesting opportunities and there are [...]
Citigroup Inc., which suffered $15 billion in losses over the past two quarters, may cut thousands of jobs from its investment banking workforce globally, reports Wall Street Journal. It even said that the pink slips might be handed over as early as Monday. The New York bank had earlier indicated that it would cut 10 [...]
Acuity Partners, a new investment banking JV formed by Sri Lanka’s largest private sector bank Hatton National Bank (HNB) and the Development Finance Corporation of Ceylon (DFCC), will focus on South India, besides Bangladesh and Sri Lanka, says a report in The Hindu Business Line.
Acuity Partners, with an initial capital of $5 million, will offer [...]
Anil Dhribuhai Ambani wants to build a broking and investment banking firm that can directly compete with global investment banks. Ambani, who is already present in various financial services businesses including the retail broking company Reliance Money, has hired Keshav Sanghi, the former head of Deutsche Equities, to build an institutional broking firm from scratch. [...]
Daiichi Sankyo:
Financial advisor: Nomura Securities Co. Ltd., the Japanese investment bank, acted as the exclusive financial advisor.
Legal advisors: Jones Day as the legal advisor outside India, P&A Law office as the legal advisor in India, Mehta Partners LLC as the strategic business advisor and Ernst & Young as the accounting and tax advisor.
Ranbaxy:
Financial advisor: [...]
Mirae Asset Financial Group, the South Korea based financial major, is looking at ramping up its securities business in India such as wealth management, stock broking, investment banking, venture capital and private equity. The company is also looking for a partner to set up this business in India, Mirae’s Chairman Park Hyeon Joo told a [...]
Who are the advisors for Reliance Communications in its merger talks with South Africa’s MTN? Global investment bank Lazard is already on board as an advisor for RCOM. Besides Lazard, the Indian unit of KPMG has been appointed one of the consultants by RCOM in its MTN deal. Abizer Diwanji, Executive Director-Advisory, KPMG, has confirmed [...]
Doha Bank Ltd, the leading bank of Qatar, announced that it has acquired a 49 per cent stake in an Indian brokerage firm, the bank informed the Doha Securities Market, according to a report by Bloomberg. The bank did not divulge the deal value or name of the brokerage. Last year Doha Bank had acquired [...]
A non-banking finance company (NBFC) is a key to every investment bank (or broking firm’s) growth in India. The latest to join the bandwagon is Swiss investment bank Credit Suisse. The bank is reportedly in the process of acquiring a majority stake (91 per cent) in a Chennai-based NBFC, Bokdia Marketing and Finance, reported The [...]
Arjun N Murti is the most talked about analyst on the globe today. The Goldman Sachs analyst tracks oil, and has now made commodity analysis a sexy career to pursue in finance. Murthi’s recent claim to fame is that he has predicted oil will cross $200 per barrel very “soon”. The oil prices have already [...]
Kotak Mahindra Bank, the former local partner of investment bank Goldman Sachs,
has brought on board a senior global financial executive to spearhead its international initiatives. The Mumbai based bank has appointed Hasan Askari, an investment banker and former member of the executive committee at Old Mutual, as an advisor with a mandate to expand the [...]
As India emerges as one of the top destinations for M&A practice in the world, there is a severe catfight going on for talent in the investment banking business. Royal Bank of Scotland (RBS), which acquired ABN Amro Bank last year, has hired three key people from the Dutch bank for Indian investment banking operations. [...]
A Tata Capital arm will provide merchant banking services. The company has announced on Tuesday that its subsidiary Tata Capital Markets Ltd has obtained a license from the Securities and Exchange Board of India to offer merchant banking services to corporate clients.
Tata Capital Markets will offer issue management services, qualified institutional placement of shares, corporate [...]
US based investment bank Jefferies has appointed Sidharth Punshi as a Managing Director and Country Head in India. Punshi will lead a team of investment banking professionals covering the Indian market. He joins from Goldman Sachs where he was Executive Director, Head of European IT Services and Software Sector in the Technology, Media and Telecommunications [...]
In a significant development, Citigroup has reorganised its investment banking division globally by forming an Alternative Asset Group within the arm. The new unit will bring together groups servicing private equity and infrastructure funds, the bank said in an internal memorandum sent to its employees on Tuesday. The new Alternative Asset Group will be led [...]
