(Updates with debt sales in third paragraph.)
Oct. 4 (Bloomberg) -- Morgan Stanley, owner of the world’s largest retail brokerage, named Vikas Khattar managing director and head of global capital markets in India to tap demand for investment banking services in Asia’s third-largest economy.
Khattar, who joined the bank’s Mumbai office on Oct. 1, reports to Crawford Jamieson and George Taylor, co-heads of global capital markets in Asia-Pacific, according to a statement from Morgan Stanley.
International banks are bolstering their services as Indian companies increasingly tap capital markets overseas. Non-rupee debt sales by firms from the nation doubled to $9.1 billion this year, according to data compiled by Bloomberg. New York-based Morgan Stanley is ranked 13th in arranging international bonds and 8th in managing domestic share sales by Indian companies in the last twelve months, data show.
Essar Group, controlled by the billionaire Ruia brothers, is considering listing infrastructure assets in London to raise about $750 million, three people with knowledge of the matter said. JPMorgan Chase & Co. and Credit Suisse Group AG are working with Essar on the initial public offering, the people said, declining to be identified because the process in private.
Khattar was most recently Citigroup Inc.’s head of South Asia equity and equity-linked capital markets origination in India. Before that he was at Merrill Lynch & Co. for 11 years, according to the release.
Goldman Sachs Group Inc. hired P.V. Krishna from Morgan Stanley to run its equity capital markets business in India, two people with knowledge of the matter said in May.
--With assistance from Anurag Joshi in Mumbai. Editors: Arijit Ghosh, Abhay Singh
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