UBS has named Gaurav Mehta as new head of its investment banking unit in India, as per a Mint report.

Mehta will report to  David Chin and Matthew Hanning, co-heads of the firm's investment banking division in Asia, and Aashish Kamat, CEO India.

He has replaced Ravi Shankar, who resigned last September.

His elevation is a part of the bank's restructuring exercise in India that started last year, through which it surrendered its banking licence and reduced staff in both investment banking and treasury wings. 

Mehta joined UBS in Sept 2010 from Morgan Stanley where he had handled real estate, telecom, financial sponsor clients and worked on fundraising mandates. 

He started his career with HSBC in London after receiving a master’s degree from the London School of Economics in 2001.

(Edited by Joby Puthuparampil Johnson)

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