India's second-largest private sector lender, HDFC Bank roped in Rakesh Singh from Rothschild to head its investment banking division. For the first time since the formation of the department in 2009 there will be only one person in sole charge of it. So far HDFC Bank’s investment banking arm was being looked after by Neville Poncha who is also the executive vice-president at HDFC Bank.
Banks and corporates are increasingly strengthening their investment banking divisions. According to the tax and advisory firm, Grant Thornton the number of mergers and acquisitions, private equity transactions and qualified institutional placements, jumped over 40% to 911 last year from 2009.
In another top level corporate recruitment Gaurav Khungar was roped in by Religare Capital Markets Limited, the investment banking and institutional securities arm of Religare Enterprises. He has moved to Religare from consulting firm KPMG
Investment bankers today play a pivotal advisory role in any kind of merger, acquisition or private equity transaction.
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