In his new role, Purker will oversee LehmanÆs client-based risk solutions group, which incorporates both debt and equities, in India. Based in Mumbai, he will report to Surojit Shome, head of investment banking in India and Joonkee Hong, head of global finance Asia.
ôWith M&A on the rise and demand for innovative structured financial products increasing, PrashantÆs experience will be an invaluable asset to the firm,ö says Shome.
As head of ICICI BankÆs global finance team, Purker was responsible for the Indian proprietary trading business as well as the investment and trading activities of the bankÆs overseas branches. With more than 20 years of experience within the business development and managerial fields, Purker is familiar with a broad range of financial services and products, including foreign exchange, equities, fixed income, asset-backed finance, interest rates and derivatives related to these products.
In the past, LehmanÆs business focus has been largely in north Asia. In recent years, though, it has committed more and more resources to building its strength in emerging markets and it is keen to establish an investment banking franchise in India. This is no easy task at this juncture, given competition from others such as Credit Suisse and Goldman Sachs, who are also aggressively expanding their India coverage.
Lehman Brothers opened its Mumbai office in 2005 and since then its Indian operations have been growing rapidly with a focus on developing infrastructure and research to support its worldwide operations in investment banking, capital markets, finance and risk management. The bank currently employs about 1,000 staff in India.
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