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Here is another high level exit from ICICI Securities, once used to be India's leading investment bank. J Niranjan, the head of investment banking, has left ICICI Sec to join CLSA Asia-Pacific Markets as a Managing Director and Co-Head of investment banking. He will be based in Mumbai. Niranjan's exit is significant for ICICI Sec since he has spent last 17 years at the firm.

ICICI Sec had recently lost two senior executives - Mehul Savla, head of equity capital markets, and Amrish Baliga, head of private equity, joined JP Morgan and Deutsche Bank, respectively. Another key functionary Anuj Bhargava, the head of the business restructuring advisory group, had also moved out to parent ICICI Bank.

The exodus at ICICI Sec could be part of the recast the firm had gone through recently. In April this year, the Corporate Products and Investment Banking Group of ICICI Bank was renamed as the Global Investment Banking Group (GIBG). And the investment banking business of ICICI Securities was shifted to GIBG, while i-Sec was left with only equity markets and research.

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