Pratik Loonker, who was leading the ECM (equity capital markets) practice at Investec India has resigned and is headed to top domestic investment bank ICICI Securities, multiple industry sources with knowledge of the matter told Moneycontrol.
"Loonker has stepped down and is likely to join ICICI Securities by early April," said one of the persons cited above. A second person confirmed the proposed move saying Loonker would take over as Head of Institutional Syndication, ECM.
Both the persons above spoke to Moneycontrol on the condition of anonymity. Investec, Loonker and ICICI Securities were unavailable for an immediate comment.
Loonker had joined Investec in October 2021. He has a combined experience of two decades in the industry and has earlier had stints at Deutsche Bank in Hong Kong and India and at JM Morgan Stanley in India and Singapore in the ECM segment. He has advised both domestic and international clients. Interestingly, he also founded a SaaS and fintech start-up Transport Technology in January 2016.
According to the Investec website, Loonker, an alumnus of the Mumbai University “has been involved in origination and execution of more than 100 ECM transactions in his career and has raised close to $50 billion for his clients."
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.
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