HDFC Bank - The Country’s Largest Lender Is Hiring Top Investment Banking Talent

10 May 2018: The country’s largest lender by market value, HDFC Bank, is hiring top finance banking talent to increase its presence in a business holding major promise. In the past few months, the bank has hired at least 10 top rainmakers from global banks such as HSBC, Standard Chartered Bank, and Macquarie, and the home-grown ICICI Bank. While it's ranking in the mortgage market has been climbing, HDFC Bank is slotted lower in investment offerings.
Among local banks, Axis, ICICI, and Kotak have a significant presence in the equity markets. “The expansion of the senior team in investment banking is part of our strategy to infuse the requisite talent and expertise to tap potential opportunities,” said Rakesh Singh, group head, Investment Banking, Private Banking, Capital Markets and Financial Institutions, HDFC Bank.
Sonit Singh from Standard Chartered Bank has been recruited as co-head of the real estate sector under the investment banking arm. Most of the senior executives report to Rakesh Singh, who himself was elevated to handle the additional folder of private banking. Further, Abhishek Bhagat has been hired from Elara Capital and became the head of internet and technology vertical. Jagat Dave is heading consumer investment banking and he was in Ambit Capital in his earlier assignment.