Credit Suisse Receives Merchant Banking Licence In India
Wed, 07/04/2007 - 17:36 — Sahad P VSwiss bank Credit Suisse has announced that it has received merchant banking licence from India's market regulator Securities and Exchange Board of India. This will allow Credit Suisse to provide onshore securities underwriting and corporate finance services in India.
The investment banking team is led by V. Anantharaman, who joined Credit Suisse in October 2006. In addition to capital raisings, Credit Suisse expects to ride on the growing cross border M&A and domestic consolidation in industries such as financial services, consumer goods, natural resources, communications & IT, and real estate.
Paul Calello, CEO of Credit Suisse Investment Bank, said: “We are very pleased with this development...Our expansion into investment banking onshore in India highlights Credit Suisse’s broad-based approach in building an integrated, comprehensive global financial services platform in the country.” In March 2007, Credit Suisse launched its brokerage operations in India.
Besides Credit Suisse, several international banks and broking firms like Nomura Securities and Bear Stearns are looking at on the ground presence in India.
