(Yahoo! Finance) — an insider’s guide to the emerging economic powerhouse, and the billionaires and businesses behind its rise, delivered weekly.
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, according to people familiar with the matter.
The New York-based firm is looking to add bankers in ranks ranging from associate to managing director, expanding its team in India to about 25 people, the people said. The new positions will focus on sectors such as infrastructure and industrials, said the people, who asked not to be identified as the information is private.
A representative for Jefferies declined to comment.
Jefferies 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. Besides Mumbai, the US firm also has offices in Beijing, Melbourne, Singapore, Sydney and Tokyo in the region, according to its website.
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.
