The US investment bank has poached Shilpa Krishnan from Kotak Securities, Pradeep Mirchandani from Citi and Puneet Gulati from Stratcap Securities. Krishnan will head up the research of infrastructure, utilities and capital goods, while Mirchandani will cover the energy and chemicals sectors and Gulati will keep an eye on the financials. Mirchandani and Gulati are both joining as research analysts.
Internally the bank has also transferred Nishit Jasani, Gunjan Prithyani and Karan Singh Uberoi to foster the Indian research team. They will cover the technology, real estate and financial sectors respectively.
ôWe are committed to strengthening the quality of our India research franchise and to providing our clients first class services to meet their growing requirements for quality analysis,ö says Bharat Iyer, the bankÆs head of India equity research.
ôIndia is a vital part of the firm's Asia-Pacific strategy. In order to achieve our ambitious growth targets in India the firm needs a deep and broad research capability and these hires will certainly help us fulfil this aim,ö adds Sunil Garg, the bankÆs head of Asia ex-Japan equity research.
With the new appointments JPMorganÆs team of analysts based in Mumbai has increased to 21. The hires complement the bankÆs attempts to beef up its sales strength in India earlier this month, when it increased its Mumbai sales, sales trading and dealing staff from nine to 15.