Ace investment banker Manisha Girotra will head Indian operations of Moelis & Company, the global independent investment bank, which is setting up shop in country.
The hiring of Girotra as chief executive officer is the first step in Moelis & Company’s expansion plans for India as the firm continues its global growth, Moelis said in statement.
Girotra told Business Standard that priority is to building a team of high quality bankers in India. Moelis expects team size to grow to double digits in the next twelve months.
Working out of Mumbai, the investment banking outfit intends to compete with big-bulge banks for business in the domestic market. It would equally remain focused on cross-border deals as India companies grow overseas.
Girotra said while the deal flow in investment banking space has hit rock bottom in last few quarters, the market opportunity is huge with $ 1.8 trillion market and 180 companies having market cap in excess $ 1 billion each.
Girotra joins Moelis & Company after a 16 year career with UBS where she was CEO & Country Head in India managing business like investment bank, commercial bank and markets. She has worked on a number of marquee deals during her career including Vodafone’s $13 billion acquisition of HITL’s interest in Hutchison Essar and the US$11 billion sale of Zain to Bharti Airtel.
It is starting on fresh wicket without direct India business exposure. It, however, indirect India exposure by being associated with Jaugar’s, subsidiary of Tata Motors, joint venture in China.
It has opened offices in the United States, London, Dubai, Frankfurt, Sydney, Hong Kong and Beijing since its formation in July 2007.
Moelis provides independent financial advisory services in the areas of Mergers & Acquisitions, Recapitalizations and Restructurings, Capital Markets and Risk Advisory, and asset management services to a broad global client base including corporations, institutions and governments.
