Churn among Indian investment banks

Saurabh Sonthalia, Keshav Sanghi and Alagappan Murugappan, senior investment bankers at BoA Merrill, Citi and ICICI Securities, respectively, bank their bonuses and jump ship.
Alagappan Murugappan
Alagappan Murugappan

The first quarter of the year is when investment bankers get paid their hard-earned bonuses as reward for the previous calendar year’s performance. And, once that milestone has been reached, announcements start doing the rounds about who is going where.

In India this year, a number of senior bankers have decided to try their luck in a different industry or organisation, in some cases leaving behind a gap at the firm they left.

Saurabh Sonthalia, who was head of global capital markets for Bank of America Merrill Lynch, has handed in his papers and is on three months of gardening leave. He is rumoured to be heading...

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