HSBC Holdings plans to beef up its investment banking operations in India, leveraging its balance sheet to help it grow in a deal-making market that is both fast-growing and fiercely competitive.
HSBC aims to add about a dozen staff to its roughly 80-strong investment banking unit in India over the next year, building both its M&A advisory and equity capital markets businesses.
After a lull during the global financial crisis, investment banks have resumed hiring in India as dealmaking has recovered even as underwriting fees remain notoriously thin, especially on government deals that will account for a sizeable chunk of the roughly $30 billion in equity issuance expected this year.
Indian firms, which escaped the worst of the global crisis, have returned to their acquisitive ways, completing nearly $26 billion worth of deals this year, headlined by Bharti Airtel (BHARTIARTL.BO : 316.85 -5.2
)'s $9 billion acquisition of the African operations of Kuwait's Zain.
)'s $9 billion acquisition of the African operations of Kuwait's Zain.
No comments:
Post a Comment