Macquarie has poached Gaurav Gupta from Nomura to head Macquarie Capital Advisers in India, a position that effectively makes him head of investment banking for India.
Gupta will continue to be based in Mumbai and will report to Kalpana Desai. Desai joined Macquarie Capital Advisers in September last year as deputy head of Asia.
The position as head of India at Macquarie Capital Advisers opened up in December last year when it appointed Varun Bajpai as chief executive officer of SBI Macquarie Infrastructure Management, a joint venture between the State Bank of India and Macquarie Capital. Bajpai was then the head of Macquarie's corporate advisory team in India.