Investment banker Manisha Girotra will head the Indian operations of Moelis and Company, a global independent investment bank setting up shop in the country.
The hiring of Girotra as chief executive officer (CEO) was the first step in Moelis’ expansion plans for India, as the firm continued its global growth, it said in a statement.
Girotra told Business Standard the priority for her was to build a team of high-quality bankers. Moelis expects the team size to grow to double digits in the next 12 months. Working out of Mumbai, the investment banking outfit intends to compete with major banks for businesses in the domestic market.
It would equally remain focused on cross-border deals as India companies grow.
While the deal flow in investment banking has hit the bottom in the last few quarters, the market opportunity is huge, with a $1.8-trillion market and 180 companies having a market cap in excess $ 1 billion each, she said.
Girotra joins Moelis after a 16-year career with UBS, where she was CEO and country head in India, managing investment banking, commercial bank ing and markets. She has worked on a number of marquee deals during her career, including Vodafone’s $13-billion acquisition of Hutchison Telecom International Ltd’s interest in Hutchison Essar and the $11-billion sale of Zain to Bharti Airtel.
Moelis is starting on a fresh wicket without direct India business exposure. It, however, has indirect exposure by being associated with Tata Motors’ subsidiary Jaguar’s joint venture in China. It has opened offices in the US, London, Dubai, Frankfurt, Sydney, Hong Kong and Beijing since its formation in July 2007.
Moelis provides independent financial advisory services in the areas of mergers and acquisitions, recapitalisations and restructuring, capital markets and risk advisory, and asset management services to a broad global client base, including corporations, institutions and governments.