Vikram Hosangady has been appointed as the new head of private equity advisory practice at KMPG India, succeeding Vikram Utamsingh. Hosangady will also continue to head the transaction services practice where he has worked on more than 150 India-based and overseas transactions, KPMG said on Wednesday.
VCCircle first reported that Vikram Utamsingh, who had worked with KPMG for 14 years and led the PE practice in India, left the company.
“The private equity business in India has fared through rough winds in the past couple of years and is now seeing a churn in the industry,” said Hosangady. “KPMG’s private equity practice is the largest focused PE practice in India and it is a matter of great pride to lead a dedicated team of experienced partners during these exciting times,” he added.
The move comes after Richard Rekhy was appointed as the new CEO of KPMG India in October 2012, succeeding Russell Parera who led the firm for six years. Another recent departure from KPMG was that of Rohit Mahajan, partner and co-head of Forensic Services, who has joined Deloitte. Both Rekhy and Utamsingh were colleagues at Arthur Andersen and then joined KPMG.
(Edited by Sanghamitra Mandal)