Daiwa's equity head Jaideep Goswami quits

Adding to the recent churn in equities businesses in India, Jaideep Goswami, head of equities of Daiwa Capital Markets, has put in his papers. According to sources, Goswami, who has about 17 years of experience in equity, quit last week and is likely to join ICICI Securities as equities head.

Goswami was with Daiwa Capital since 2008 and had held various positions, including managing director and executive VP. He had been with HDFC Securities and UTI Securities as head of equities. When contacted, Goswami confirmed on his exit from Daiwa. However, he refused to disclose further details. Daiwa Capital did not respond to queries.

According to persons in the know, new appointments at the Daiwa’s equity business was behind Goswami’s move. Daiwa Capital had appointed Alok Vajpeyi as managing director and senior head of equities in May. Vajpeyi was previously the vice-chairman and managing director of Dawnay Day AV, and served as the president of DSP Merrill Lynch Investment Managers.

Daiwa had also hired Rajiv Vaid from Citigroup as COO, Sriram Iyer from Antique Stock Broking as executive director and head of sales trading.

The last few months witnessed more people movements at the equity business. While foreign majors were aggressive in hiring seniors in equity business, Indian firms remained passive as far as new appointments were concerned.

Jefferies, which set up a full-service equity broking business in India recently, had appointed Kunal Bajaj as head of India equity sales and Govind Chellappa as head of India research. RBS had appointed Devesh Kumar as head of equities. Bhavtosh Vajpayee from CLSA had joined Barclays Capital to head its India equities business.