Tata Cap's pvt investment banking biz in Singapore

Tata Capital on Monday said it would set up a private investment banking business in Singapore in two years. "Licencing process is to be started soon and the business will be in operation in two years," Tata Capital Managing Director and chief executive Praveen P Kadle said here. He said the broad plan would be to establish a strong private equity and fund management as well as wealth management and securities brokerages. "This will be our first private banking. In two years, this will surely happen," Kadle said after signing a memorandum of understanding (MoU) with Singapore's Economic Development Board (EDB) to help Indian companies to internationalise their businesses through Singapore.