Here is a big people move. Amit Chandra, the Country Head of DSP Merrill Lynch, has quit the firm to set up a private equity fund along with former McKinsey chief Rajat Gupta. Chandra is leaving after a 13-year stint at the firm. Hemendra Kothari, chairman of DSPML, will stand in for Chandra (probably till they find a suitable replacement).

Chandra joins other investment banking veterans like his former colleague Rajeev Gupta, Enam’s Mahesh Chhabria and IL&FS’ Hetal Gandhi to join the private equity industry. Gupta left DSP in early 2005 to join as Managing Director and India head of the buyout firm Carlyle. Chhabria left Enam Financial Consultants to join UK private equity firm 3I, while Gandhi left IL&FS to head Tano Capital.

The talent-starved private quity industry looks for investment banking veterans to man their operations.

Thirty-eight year old Chandra spent all his i-banking career at DSPML. He worked briefly as a consultant in 1993-94, and before his MBA, he worked for Larsen & Toubro, a leading Indian engineering and construction company.

Chandra’s main role was to build relationships at the firm, and he has executed some of the largest deals for the firm. Chandra joined the board of DSPML in 2004. He received his MBA in Finance and Strategy from Boston College and holds a Bachelors Degree Engineering (Electrical), from VJTI (University of Bombay).

Posted on 11/30/06, 9:35 AM
in: Investment Banking, Main Page, People, Private Equity
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