Jefferies sets up equity business in India
MUMBAI: US securities and investment banking firm Jefferies Group Inc said on Wednesday it had set up equity sales, trading and research operations in India, adding to its investment banking services in Asia's third-largest economy.
Jefferies has appointed Kunal Bajaj as head of equity sales and Govind Chellappa as head of research, it said in a statement.
Jefferies hired five equity bankers in India from Credit Suisse , including Bajaj and Chellappa, to establish its equity operations, sources with direct knowledge of the development had told Reuters in March.
Jefferies set up its India investment banking operations in 2007 and it has 12 bankers, the company statement said. It has advised Indian clients on more than $6 billion in merger and acquisition transactions.
Copyright Reuters, 2011
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