Ashish Jhaveri joins Jefferies as head of i-banking, India

Over the past 2 years, Jefferies has bulked up its India investment banking team with other key hires

Ashish Jhaveri has joined Jefferies as MD and Head of Investment Banking (India), according to a LinkedIn post by the dealmaker on October 3. This announcement comes amid increased churn in the Indian deals ecosystem.

On April 6, Moneycontrol had reported the proposed move by Jhaveri, back then the Head of M&A at rival investment bank Barclays.

Prior to Barclays, Jhaveri, a chartered accountant and lawyer, had stints at Credit Suisse, Citi, Yes Bank and Kotak Securities, according to his LinkedIn profile. During his tenure at Barclays, the i-bank acted on major deals such as Carlyle's purchase of Baring PE Asia's stake in Hexaware, Softbank Energy sale to Adani Green Energy and Advent International's acquisition of a majority stake in Suven Pharma.

Over the past 2 years, Jefferies has bulked up its India investment banking team with other key hires.

On Jan 28, 2022, Moneycontrol was the first to report that Jibi Jacob, Managing Director and Head, Capital Markets (Investment Banking) at Edelweiss Financial Services had resigned and was headed to Jefferies as MD and Head (Capital Markets), India and South Asia.

Later, on June 6, 2023, Moneycontrol reported that Praveer Garg, Director and Head of Technology Investment Banking at Barclays Bank India is set to join the Indian arm of rival investment bank Jefferies.

Corporate Crossings

Dealmaker churn in India

This year has seen many moves by Indian dealmakers who have joined rival outfits, turned entrepreneurial, or embraced India Inc.

Veteran Citi banker Ravi Kapoor retired recently and has set up his own deal advisory and investment firm SACS Partners. According to reports in September, Chirag Negandhi, the co-CEO of Axis Capital has put in his papers.

Utpal Oza, a founding member of Nomura when it set up shop in India in 2006, stepped down as head of investment banking ( India) and has been succeeded by Amit Thawani.

Specialty chemicals firm Anupam Rasayan India appointed Gopal Agarwal of Edelweiss as CEO in September.

On May 28, Moneycontrol broke the story that top global management consulting firm Boston Consulting Group (BCG) has picked Rahul Jain as the new lead for its India office.

On March 1, Moneycontrol reported that Pratik Loonker of Investec was headed to ICICI Securities. Jayesh Visaria head of healthcare and consumer i-banking at Barclays quit the global bank in the same month. Earlier in January, Mahesh Natarajan, the ex-ECM head of ICICI Securities was tapped by foreign investment bank Nomura.

Note For Readers: Corporate Crossings is a series from Moneycontrol that will focus the lens on important executive movements within companies and in the industry, and capture the exits and new innings of members of India Inc., investment bankers, lawyers, Big 4 professionals, private equity investors, & more.