US-based financial services firm Pali Capital is increasing its focus on India even as stock markets are hitting a new low and FIIs seem to be cashing out on their investments. The firm has announced launch of both an equity sales and trading operation and a team within its Investment Banking Department focused on Developing Economies around the world. The division is led by a former Bear Stearns team that focused on sales and trading and banking opportunities in India.
The new division would also look at developing markets such as Brazil, China, Russia, Thailand etc. Aviral Rai, a former Senior Managing Director at Bear Sterns, would be leading this division. Others who would be joining him are Bill Nichols, Ridaa Murad and Amrit Agrawal. Pali would also be adding country specific specialists and a research team to this division soon.
"Viral, Amrit, Ridaa, and Bill are proven professionals and we expect that they will help further deepen our competencies in the emerging markets area by complementing quite nicely both our equities business and the Pali emerging market fixed income operation," commented Brad Reifler, Chairman and Chief Executive Officer.