Global securities and investment banking firm Jefferies Group, has expanded its existing Indian operations in the areas of equity sales, trading and research. Jefferies already has an I-banking presence in India having established an office four years ago.

It has now roped in Kunal Bajaj as a managing director and head of India Equity Sales, Govind Chellappa as a managing director and head of India Research and Senior Equity Research Analyst covering the autos and consumer industries, Anand Agarwal, as a senior vice- president and senior equity research analyst covering the real estate industry and Ramnath Iyer as a managing director in Equity Sales focused on serving the Indian market.

“The establishment of a full-service Equities business in India is the next step in our broader Asian Equities expansion and comes on the heels of recent additions to our equity business in Tokyo and the firm’s ongoing growth in Hong Kong,” said Mike Alexander, CEO of Jefferies Asia.

Bajaj, Chellappa and Agarwal, who were all working with Credit Suisse in their last assignment, will be based in Mumbai while Iyer will be based in the firm’s Singapore office.

Bajaj has 11 years of industry experience and joins Jefferies from Credit Suisse where he was a director in Institutional Equity Sales covering clients based in Asia. Chellappa has 12 years of industry experience and was previously a director in Equity Research covering the automobile and consumer sectors at Credit Suisse. Previously, he was a vice- president in Equity Research at Deutsche Bank. Agarwal who has 9 years of industry experience was vice-president in Equity Research covering the real estate and cement sectors at Credit Suisse. Before that he was an equity analyst at UBS.

Iyer joins Jefferies from Pioneer Investments where he was a Senior Portfolio Manager. Previously, he worked as an emerging markets strategist at CLSA in London and as India portfolio manager and strategy coordinator at Uob Asset Management. He comes with 21 years

of industry experience.

Jefferies existing Indian arm is led by Probir Rao, head of India Investment Banking and Capital Markets. Established in 2007, Jefferies India investment banking team consists of 12 investment bankers covering a broad range of sectors, and has advised Indian clients on over $6 billion in M&A transactions and more than $3.5 billion in capital raising transactions.

To support its growth in India, Jefferies has also made key hires in the areas of Operations, Finance and Compliance who will join the firm in the coming weeks.

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