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| Religare expands investment banking operations |
| BS Reporter / Mumbai Oct 08, 2009, 16:37 IST |
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Religare Enterprise is expanding is investment banking division. The financial services company has started an investment banking division to tap opportunities in emerging markets. This new division will be part of Religare Capital Markets Limited (RCML).
The company is expanding in emerging markets as studies estimate that these regions will see the fastest growth in the coming years. Mckinsey, for instance, predicts that investment banking in emerging markets will rise by 16 per cent till 2010. This means, it will contribute 28 per cent of the total global deals.
Among the emerging markets, Asia, (excluding Japan) will rise by more than 60 per cent. Emerging regions in Latin America will see 16 per cent growth. Emerging countries in Europe and Middle East will see a growth of 19 per cent and 25 per cent respectively, predicts the study.
To head its global operation, RCML has appointed Martin Newson as CEO, global investment banking. Newson will be based out of London. He will oversee the entire investment banking and institutional brokerage business across various geographies of emerging market, including India.
Newson comes to Religare from Dresdner Kleinwort. He was head of the global equities at Dresdner Kleinwort and also led hedge fund solution practice in the firm. He has an experience of 20 years in global equities. He has also headed US equities at Deutsche Bank in New York, and European equities at Credit Suisse.
Shachindra Nath, Religare's group COO said: "Martin's track record in building successful global franchisee or some of the world's largest investment banks speaks for itself."
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