Ashish Jhaveri of Barclays may join Jefferies as new India i-banking spearhead

India is a growth market for Jefferies and they want to build the team here, said another industry source

Senior dealmaker Ashish Jhaveri has resigned from Barclays and may be headed to rival investment bank Jefferies as the new head of investment banking (India), multiple industries sources with knowledge of the matter told Moneycontrol.

Ashish, currently the head of M&A at Barclays, is likely to join Jefferies over the next few months, one of the persons above shared.

"India is a growth market for Jefferies and they want to build the team here, " a second person said.

A third person also confirmed Jhaveri's proposed move.

Corporate Crossings

All the three persons above spoke to Moneycontrol on the condition of anonymity.

When contacted, Barclays declined to comment.

Jhaveri and Jefferies were unavailable for an immediate comment.

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.

Prior to Barclays, Jhaveri, a chartered accountant and lawyer, has had stints at Credit Suisse, Citi, Yes Bank and Kotak Securities, according to his LinkedIn profile. During his tenure at Barclays, the i-bank has 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.

There have been other moves in the investment banking fraternity earlier this year. On March 1, Moneycontrol reported that Pratik Loonker of Investec was headed to ICICI Securities. Earlier in January, Mahesh Natarajan, the ex-ECM head of ICICI Securities was tapped by foreign investment bank Nomura.