Ing Snares Full Bankam Investment Banking Team

ING Barings has hired the entire India-based investment banking team of Bank of America to shore up its team as part of its long-term objective to expand India operations. The team comprises 12 investment bankers and one secretary.

This division will now be headed by Sunil Gulati as the head of investment banking, while other senior appointments include Amit Bisaria, Sandeep Sharma and J Vijay Anand as directors.

This will augment ING Barings' existing team of four. "This is in keeping with our strategy to increase operations to become one of the bigger players in the Indian scenario," said Atul Shaharabuddhe, country manager (India), ING Barings.

 

The Dutch bank also plans to revive its equity broking arm which will operate out of its securities and broking venture which was shut down in 1998.

"But we still have a valid license so that next on our agenda," he added.

Commenting on this, chairman and chief executive office of ING Barings, Asia Pacific and head of investment banking said, "The team has established an excellent track record in M&A advisory, equity and debt raising with a broad based franchise of Indian and overseas clients."