Equirus rejigs top team; to enter PMS, wealth management biz

Mid-sized investment bank Equirus Capital has undertaken a top-level management rejig under which it has elevated Ajit Deshmukh as the head of investment banking, a position till now held by founder Ajay Garg.
Garg will remain Managing Director but will move out of daily operations of the investment banking vertical and assume the role of a mentor for the flagship business unit.
The management revamp is aimed at two things -- creating a second-rung leadership team and to drive new verticals of portfolio management services (PMS) and wealth management services, which will be launched soon, Garg told PTI.
Ajit Deshmukh has been the key management person at Equirus since 2012, leading the technology space and playing a leadership role in cross-border mergers and acquisitions and fund-raising for technology companies.

"Garg will spend more of his energies in mentoring the investment banking team and focus on broad-basing the financial services business... Along with the institutional equities," a company statement said today.
Prior to Equirus, Deshmukh was heading Wizarth Advisors as the founder and managing director. He merged the company with Equirus in 2012.

At Equirus, Deshmukh led the team that worked on acquisition of the Munich-based AE Automotive Elements by engineering services startup Allygrow Technologies, Antuit's acquisition of the Chicago-based Prognos and mGage's buyout of Unicel Technologies, among others.
In another change, the company elevated Sandeep Gogia, who was Deshmukh's colleague at Wizarth, as the head of the technology and cross-border M&A verticals.

Equirus is a full-service investment bank advising private equity deals, M&As, capital markets and structured finance services to mid-cap clients. It has transaction experience in financial services, infrastructure and real estate, technology and business services, industrials, healthcare and pharma space.
Started in July 2007, Equirus has completed over 100 deals and has set up a robust research and institutional sales division and employs 55 investment bankers.