Munesh Khanna quits DSP Merrill
MUMBAI: Investment bank DSP Merrill Lynch has been hit by another senior-level resignation. Munesh Khanna, MD and head of investment banking of DSPML, has put in his papers. This is the second senior-level resignation from the firm within the past couple of weeks.
Mr Khanna joined the firm in end-July. Before joining Merrill, he was a partner and MD in Enam Financial. Prior to that, he was country head of Rothschild India for three years, and before that he was head of corporate finance in India at Arthur Andersen. He is understood to be looking at starting a fund-based activity or an NBFC.
When contacted, Mr Khanna confirmed that he was quitting Merrill to start his own venture. Late last month, Amit Chandra, MD and board member and head of global markets and investment banking who has been in the firm for 13 years, also put in his papers. He is set to join a fund floated by Rajat Gupta, former CEO of McKinsey.
According to sources, the investment banking business in DSPML will now be headed by Patricia McLaughlin who was appointed along with Mr Khanna as vice-chairman of India investment banking. She has been in the firm from 2001.
I-banking sources said most of the old senior officials from DSP have now put in their papers. Earlier, Ravi Kapoor, who was the head of equity origination and capital markets, had quit the firm to join Citi to head its capital markets team.
Rajeev Gupta, who was the joint MD and head of investment banking, had quit the firm to join the US-based private equity fund Carlyle as MD and head of India Buyout Group.
:SugarwareZ-064:
MUMBAI: Investment bank DSP Merrill Lynch has been hit by another senior-level resignation. Munesh Khanna, MD and head of investment banking of DSPML, has put in his papers. This is the second senior-level resignation from the firm within the past couple of weeks.
Mr Khanna joined the firm in end-July. Before joining Merrill, he was a partner and MD in Enam Financial. Prior to that, he was country head of Rothschild India for three years, and before that he was head of corporate finance in India at Arthur Andersen. He is understood to be looking at starting a fund-based activity or an NBFC.
When contacted, Mr Khanna confirmed that he was quitting Merrill to start his own venture. Late last month, Amit Chandra, MD and board member and head of global markets and investment banking who has been in the firm for 13 years, also put in his papers. He is set to join a fund floated by Rajat Gupta, former CEO of McKinsey.
According to sources, the investment banking business in DSPML will now be headed by Patricia McLaughlin who was appointed along with Mr Khanna as vice-chairman of India investment banking. She has been in the firm from 2001.
I-banking sources said most of the old senior officials from DSP have now put in their papers. Earlier, Ravi Kapoor, who was the head of equity origination and capital markets, had quit the firm to join Citi to head its capital markets team.
Rajeev Gupta, who was the joint MD and head of investment banking, had quit the firm to join the US-based private equity fund Carlyle as MD and head of India Buyout Group.
:SugarwareZ-064: