Holland, team to join Ambit

DALAL STREET FEEL WALL ST QUAKE

Andrew Holland, managing director of the strategic risk group (SRG) for DSP Merrill Lynch in India, has resigned with most of his team of eight to ten people to join Ashok Wadhwa’s Ambit Corporate Finance, a consultancy that specialises in M&As.

Holland will be joining Ambit as chief executive officer and head of equities (including institutional trading), a senior Ambit executive confirmed.

Earlier this month, Pankaj Kalra, head of general industries investment banking group at DSP Merrill Lynch, joined Credit Suisse.

A DSP Merrill Lynch spokesperson declined to comment.