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 [...]

UBS, the Swiss investment bank, seems to have been hit the hardest by the credit crunch. The bank has announced that it would sell $15 billion of subprime mortgage debt and cut 5,500 jobs in its investment banking business as part of a massive cleanup (see a Thomson report).
The subprime crisis in the United States [...]

It may be a bit late, nevertheless it’s better than never. The state-owned Corporation Bank is planning to offer investment banking and related services through its wholly owned subsidiary CorpBank Securities Ltd, reports The Hindu Business Line. The paper quotes B. Sambamurthy, Chairman and Managing Director, as saying “We are examining a couple of activities [...]

New lines of businesses have started bearing fruits for IDFC. The acquisition of the mutual fund business of Standard Chartered in India at the fag end of FY’08 and picking majority stake in I-banking firm SSKI has brought in close to Rs 243 crore in income for the year 2007-08.
While this constitutes just about 8.7 [...]

Talent retention may not be easy going forward for the country’s largest private banking group, ICICI Bank. After the bank decided to put off annual bonuses to its staff along with annual promotions, now its I-banking and brokerage arm ICICI Securities(which is in the process of going public) is finding few takers for its employee [...]

Citigroup, which lost a few senior people recently, has appointed Nalin Nayyar from Lehman Brothers as the managing director in the bank’s Indian investment banking team. Nayyar will be based in Mumbai and will report to Pramit Jhaveri, Citi’s head of global banking for India. Nayyar had been with Lehman as an investment banker in [...]

This may have come as good news for the IPO-bound ICICI Securities. The investment banking arm of ICICI Bank has emerged as the number one IPO advisor, according to a ranking by Delhi-based IPO tracker Prime Database. (We are trying to procure the ranking of top 10 advisors, and will post it as soon as [...]

Large, global investment banks have cornered most of this advisory fee from India’s Tata Group. Here is the stunning statistic. The Tata group, India’s largest global acquirer, has spent more than Rs 500 crore or $133 million in advisory fee to intermeduaries and investment banks in the last two years.
The Mumbai based group has acquired [...]

Is Wall Street getting a better grip on the credit crunch crisis after last week’s Bear Stearns fiasco. There was a sigh of relief internationally as three leading global financial majors Morgan Stanley, Lehman Brothers and Goldman Sachs posted results which are better than analyst expectations. Morgan Stanley, the second largest securities firm in the [...]

Dealmakers are busy shaking hands among themselves. Among two such deals is that of the leading alternative asset manager GLG Partners’ joining hands with Origo Sino-India plc, an investment and strategic consulting company focused on the private equity markets of China and India.
According to the MoU, the two will “explore the development of a broader [...]

Goldman Sachs Group, which recently announced that it would get into a whole gamut of financial services like asset management, NBFC and broking, has picked up a 20 per cent stake in Chennai-based non-banking finance company (NBFC) Shriram Credit Company Ltd.
The global investment banking firm’s Mauritius based investment arm GS Strategic Investments Ltd will invest [...]

Global financial services giant Goldman Sachs, which broke away from Kotak Mahindra Group in 2006, has lined up a slew of financial services in India - which includes an asset management company, primary dealership for securities, NBFC and private wealth management.
In an interview to Mint newspaper, L. Brooks Entwistle, Managing Director and CEO of Goldman [...]

ICICI Securitis (I-Sec), the investment bankiing and broking arm of ICICI Bank, plans to sell 3 per cent stake in a pre-IPO deal, reports Mint newspaper. ICICI Bank had announced in January that I-Sec would be listed in the next six months. The Mint report, quoting unnamed sources, said that investment bank JPMorgan India had [...]