hsbcs-kataria-moves-to-mumbai

HSBC's Kataria moves to Mumbai

The bank relocates Tarun Kataria from Hong Kong to Mumbai to head corporate, investment banking and markets for India.
HSBC announced on March 26 it will transfer Tarun Kataria from Hong Kong to India to head corporate, investment banking and markets for the bank in the country.

Kataria is currently responsible for foreign exchange, derivatives and fixed-income sales across the Asia-Pacific region, based in Hong Kong.

Kataria will report regionally to Naina Lal Kidwai, chief executive, India. Reflecting the importance to the bank of investment banking, Kidwai herself joined HSBC as vice chairman of its investment banking division in 2002 and rose to country head and CEO in 2006.

Functionally, Kataria will report to Rhydian Cox, head of corporate, investment banking and markets. Cox says: ôTarun will be responsible for delivering M&A advisory and international financing capabilities to corporate banking and commercial banking clients in India.ö

Kataria is an MBA from the Wharton School after a Bachelors degree from Sydenham College in Mumbai. He worked with Merrill Lynch investment banking and Chase Manhattan BankÆs derivatives group before he joined HSBC. Within HSBC he was head of sales for the bank based in Singapore before he moved to Hong Kong.

Kataria joins a growing group of Indian investment bankers with significant international experience moving back to India to make an impact in their home country. This is being driven by two primary factors. Global banks are increasing their commitment to the country and placing their best and brightest people there to tap the opportunity. On the other side, bankers themselves are eager to move to India and get a piece of the action.

In 2006, Merrill Lynch moved Rajeev Garg from Hong Kong to head global asset backed financing for DSP Merrill Lynch, based in Mumbai. More recently, Merrill Lynch announced Sumeet Puri would move, also to Mumbai, as head of equity capital markets for DSP Merrill Lynch from his current role as head of Asian execution and syndication based in Hong Kong.

Morgan Stanley is expected to announce a slew of changes soon as they seek to beef up the investment banking side of their India business pursuant to their India joint venture, JM Morgan Stanley, dissolving. HSBC has always had a flow of traffic between India and their overseas locations - this trend is only expected to accelerate.
¬ Haymarket Media Limited. All rights reserved.

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