Jefferies announced today the establishment of full-service equity
capabilities in Mumbai, India as part of the firmâ€s continued expansion
of its global equities franchise. Jefferies has appointed Kunal Bajaj as
a Managing Director and Head of India Equity Sales, Govind Chellappa as
a Managing Director and Head of India Research and Senior Equity
Research Analyst covering the Autos and Consumer industries, Anand
Agarwal, CFA as a Senior Vice President and Senior Equity Research
Analyst covering the Real Estate industry and Ramnath Iyer as a Managing
Director in Equity Sales focused on serving the Indian Market. Messrs.
Bajaj, Chellappa and Agarwal will be based in Mumbai, and Mr. Iyer will
be based in the firmâ€ٙs Singapore office.
Jefferies recently received membership approvals from the National Stock
Exchange of India Limited (NSE) and the Bombay Stock Exchange Limited
(BSE), as well as a Certificate of Registration from the Securities and
Exchange Board of India (SEBI) as a Stock Broker on the NSE and BSE.
Jefferiesâ€ existing investment banking effort in India is led by Probir
Rao, Head of India Investment Banking and Capital Markets. Established
in 2007, Jefferies India investment banking effort consists of 12
investment bankers covering a broad range of sectors, and has advised
Indian clients on over $6 billion in M&A transactions and more than $3.5
billion in capital raising transactions.
To support its growth in India, Jefferies has made additional key hires
in the areas of Operations, Finance and Compliance who will join the
firm in the coming weeks. To accommodate this expansion, Jefferies is
building new office space in the MakerMaxity building in the
Bandra-Kurla Complex in Mumbai.
â€ٜThe establishment of a full-service Equities business in India is the
next step in our broader Asian Equities expansion and comes on the heels
of recent additions to our equity business in Tokyo and the firmâ€s
ongoing growth in Hong Kong,â€ٝ commented Mike Alexander, CEO of Jefferies
Asia. â€The Indian market represents a significant opportunity for our
global Equities business, and the establishment of this capability,
which we expect to launch in the third quarter of this year, is a key
part of our strategy to provide clients with high quality research and
insight coupled with world-class execution and distribution globally."
Nilesh Jasani, India Equity Research Strategist and Head of Pan Asia
Equity Research at Jefferies, added, â€ܜKunal, Govind, Anand and Ramnath
are talented and proven professionals who will help to immediately
establish our equities business in India, where we expect to launch
research coverage in the next few weeks. These hires are part of our
ongoing commitment to provide high quality, sector-based research that
is both forward thinking and global in its approach, as demanded by our
The firmâ€ݙs equities business now consists of more than 700 professionals
globally, including over 200 outside the U.S. Jefferies offers sales and
trading services in a full range of equity products, including cash
equities, electronic trading, equity derivatives, exchange traded funds,
convertibles, prime brokerage, securities finance and more than 215
equity research professionals globally covering over 1,100 companies.
Mr. Bajaj has 11 years of industry experience and joins Jefferies from
Credit Suisse where he was a Director in Institutional Equity Sales
covering clients based in Asia. He received a Bachelors of Commerce from
the University of Bombay and is a Chartered Accountant.
Mr. Chellappa has 12 years of industry experience and joins Jefferies
from Credit Suisse where he was a Director in Equity Research covering
the Automobile and Consumer sectors. Previously, he was a Vice President
in Equity Research at Deutsche Bank. He received a PGDM from the Indian
Institute of Management Calcutta.
Mr. Agarwal has nine years of industry experience and joins Jefferies
from Credit Suisse where he was a Vice President in Equity Research
covering the Real Estate and Cement sectors. Previously, he was an
Equity Analyst at UBS. He received a PGDM from the Indian Institute of
Management Ahmedabad and is a Chartered Financial Analyst.
Mr. Iyer has 21 years of industry experience and joins Jefferies from
Pioneer Investments where he was a Senior Portfolio Manager. Previously,
he worked as an Emerging Markets Strategist at CLSA in London and as
India Portfolio Manager and Strategy Coordinator at Uob Asset
Management. He received an MBA from the Indian Institute of Management
Calcutta and a Bachelor of Commerce from Gujarat University, Ahmedabad.
Jefferies Group, Inc. (NYSE: JEF), a global securities and investment
banking firm, has served companies and investors for nearly 50 years.