Jefferies Financial Group Inc. is hiring about 10 investment bankers in India as the US advisory firm looks to beef up its operations in the world’s most populous nation, people familiar with the matter told Bloomberg.
As per the report, the firm is looking to add bankers in ranging from associate to managing director in order to expand its team in India to about 25 people.
These new positions will focus on sectors such as infrastructure and industrials, said the people to Bloomberg, who asked not to be identified as the information is private.
Meanwhile, New York-based firm has been increasing its presence in Asia Pacific, seeking to leverage its stronger position as an advisory firm in other markets such as the US and Europe.
It’s among banks that have poached from Credit Suisse’s talent pool after a government-brokered takeover by UBS Group AG that triggered a slew of departures.
Veteran Credit Suisse banker Rizal Gozali is due to start at Jefferies next month, while Credit Suisse’s co-head of Asia Pacific equity capital markets syndicate Felicity Chan is set to join the US firm as well, Bloomberg News has reported.
Jefferies late last year moved its Asia headquarters in Hong Kong to a new office. According to its website, it has offices in Mumbai, Beijing, Melbourne, Singapore, Sydney and Tokyo in Asia.
Jefferies’ plans also come as India emerges as the next potential growth engine for bankers and investors with dealmaking in China slowing significantly on economic concerns and geopolitical tensions. Singapore’s Temasek Holdings Pte plans to commit as much as $10 billion to India in three years and hire another four to five investment professionals, its India head Ravi Lambah said in an interview last month.
(With inputs from Bloomberg)
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