Morgan Stanley names new country head in India promotion spree

Morgan Stanley made several senior appointments from country head to chiefs of investment banking in India after the U.S. bank cemented multi-billion dollar deals in the Asian country in the past year.
 

Sanjay Shah will be the bank’s country head for India, effective immediately, according to a memo seen by Bloomberg News on Tuesday. Kamal Yadav and Sachin Wagle will become co-heads of the country’s investment banking, while Samarth Jagnani is the new chief for global capital markets in India, the memo shows.

The appointments also came after Aisha de Sequeira, Morgan Stanley’s co-chief executive officer and head of investment banking in India, died late last year. In 2020, Morgan Stanley worked on key deals such as Facebook Inc. and Google’s investments in Jio Platforms Ltd., the digital arm of billionaire Mukesh Ambani’s Reliance Industries Ltd. Shah was the co-head for India along with Sequeira.

Shah rose through the ranks after joining Morgan Stanley as an associate in 1996 in the institutional equities division in Mumbai. He became managing director in 2005 and was co-head of India from 2013.

Yadav and Wagle, the new investment banking chiefs in India, have been with the firm for more than 20 years. Jagnani, who joined in 2007, has been leading international listings and new initiatives for the bank in the South Asian country.