another-indian-investment-banking-jv-bites-the-dust

Another Indian investment banking JV bites the dust

Indian portfolio management and brokerage firm, ASK Raymond James, becomes the latest joint venture to dissolve with the US partner choosing to exit the country.

By Sameera Anand

March 25, 2007

US finance firm Raymond James is selling its 50% interest in its Indian financial services joint venture, ASK Raymond James, to its Indian partner, the ASK group. Details of the consideration have not been disclosed.

The joint venture was formed in 1994 when ASK Investment and Financial Consultants, promoted by brothers Asit and Sameer Koticha, came together with the US firm Raymond James Financial. ASK Investment was an equity research and investment advisory firm launched by the brothers in 1983. It was also an early mover into the portfolio management space.

ASK intends to continue in its existing businesses of institutional broking, portfolio management, investment banking and financial planning. It also plans to foray into...

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