Lehman hires new pvt equity head

Lehman Brothers Holdings Inc, the fourth largest US securities firm, said it hired Jayanta Banerjee from ICICI Venture as managing director and head of private equity in India.

The New York-based firm said Banerjee will work with global buyout funds and take responsibility for growing Lehman's investments in the South Asian nation. Banerjee was a director in charge of investments at ICICI Venture, Lehman said in an e-mailed statement.

Banerjee will report to Tarun Jotwani, the chief executive for India and Christopher Manning, head of investment management division in Asia, the statement said.

"We expect to capitalise on the tremendous growth in mid-cap corporate India,'' the statement cited Jotwani as saying.

Lehman expects to take advantage of the mid-20 per cent growth in corporate profits and 100 per cent growth in its private equity investments in India, Jotwani said in the statement.

Lehman earlier this year hired Pankaj Vaish as head of equities and fixed income markets, and Surojit Shome as head of investment banking.