Predicting an increase in business with the restoration of investor confidence, private sector bank HDFC bank has made appointments to three key positions for its investment banking division. It has appointed Mr. Abhishek Sharma as head of its pharma and healthcare division, Mr. Ajay Gupta to lead its infrastructure finance business and Mr. Akshay Dixit as the chief of its financial services segment. All three appointments were made over the last two months.
Prior to his appointment at HDFC Bank, Mr. Sharma was Vice President of investment services provider, MAPE Advisory. Mr. Ajay Gupta provided his services to GE Capital as its Senior Vice President and the Head of its infrastructure finance segment, while Mr. Dixit also worked in MAPE Advisory as its Associate Director.
It is reported that the Mumbai headquartered HDFC Bank intends to develop its investment banking division from within its existing resources rather than taking over other investment banking firms. This means that the bank wants to shift from being a consumer bank to an investment and corporate banking firm.
The bank shifted its focus towards investment banking in fiscal year 2011-12, in the month of April, when it appointed Mr. Rakesh Singh of Rothschild as the Chief of its investment banking division. At present, there are about 25 executives working under Singh.