Credit Suisse bulks up India coverage

The Swiss firm adds three top bankers to its India investment banking team proving it has big ambitions for the country.
Credit Suisse announced yesterday that it was adding three more top-level bankers to its India-based investment banking team, proving it is serious about its plans to build its India franchise.

The firm announced in a press release yesterday that Sughosh Moharikar and Samita Shah joined Credit Suisse as managing directors of its investment banking department, based in Mumbai. In addition, Ashim Ahuja will join as a director of the investment banking team.

Moharikar will be responsible for mergers and acquisitions advisory activities in India. The firm says he will play a key role in originating and executing India-related M&A transactions. He will report functionally to Joe Gallagher, Credit Suisse head of mergers and acquisitions in Asia-Pacific and locally to V Anantharaman, Credit SuisseÆs head of investment banking in India.

Moharikar joins Credit Suisse from Kotak Mahindra where he worked for 14 years and was most recently executive director and head of mergers and acquisitions.

The bank says that Shah will focus on emerging large-cap client coverage, facilitating the delivery of the full capabilities of Credit Suisse to clients in India. She will report to Anantharaman as well.

Shah has 15 years of corporate finance experience across products and industries. She joins Credit Suisse from Lehman Brothers, where she was a managing director and co-head of the Asia special situations team in India. Before that, she worked for JPMorgan and ICICI Securities.

Ahuja will cover clients in the resources and infrastructure sectors. He joins Credit Suisse from Deutsche Bank, where he was director, global corporate finance. Before that, he worked for Lazard and HSBC Securities in India. He also will report to Anantharaman.

"Many Indian businesses, from blue-chips to middle-market companies, are keen to explore opportunities to expand their business both domestically and abroad, which plays well to Credit Suisse's strength of combining local expertise and global reach," says Paul Raphael, Credit Suisse head of investment banking, Asia-Pacific. "These hires will further strengthen our ability to take full advantage of this important market opportunity."
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