Andrew Holland, Managing Director of the strategic risk group (SRG) for DSP Merrill Lynch in India, has quit his post. Where he is headed or reasons for his departure are still not known, reports NDTV Profit. This follows Credit Suisse poaching Pankaj Kalra from DSP Merrill Lynch, who was heading the general industries investment banking group at DSP, earlier this month. These departures would leave some serious dents in DSP's India team.
Holland was an old India hand with DSP, working in the country since 2002. He was working as Chief Administrative Officer and Executive Vice President of research at DSP Merrill Lynch till 2006, when he was promoted to head the SRG. Holland was also responsible for building a global research group for SRG's activities overseas. The Britisher had worked with DSP Merrill Lynch in its Thailand and Malaysia offices also.
Another DSP Merrill Lynch man in India, Amit Chandra, had recently become the India head of world's top five private equity funds. Chandra, who was heading DSP Merrill Lynch's India operations till 2006, had earlier this year become country head of Bain Capital.