Goldman Sachs At No. 2, Avendus Leads Local Banks In $38B Market
Mother of three leads India push of Morgan Stanley
Mumbai:Morgan Stanley MD Aisha de Sequeira, a 41-year-old mother of three, including twins, is the new power woman in the high-stakes world of investment banking. She spearheaded the Wall Street firm to top slot in India’s $38 billion M&A market, with Morgan Stanley dominating all the three prominent deal league tables in 2011.
Aisha, a Morgan Stanley lifer, moved to Mumbai from New York to drive M&A deals following the split with Nimesh Kampani’s JM Financial in 2007.Aisha is the daughter of Erasmo de Sequeira, an MP from South Goa between 1967 and 1977. Her grandfather was Dr Jack de Sequeira, who founded the United Goans Party soon after the liberation of Goa.
The top deck of the investment banking industry, fancied for its million-dollar bonuses, has seen a few women leaders. They include former UBS country head Manisha Girothra, Vedika Bhandarkar of Credit Suisse, Kalpana Morparia of JP Morgan and Naina Lal Kidwai of HSBC.
Morgan Stanley was the top Indian deal maker last year consolidating its position five years after its split with Nimesh Kampani’s JM Financial. Morgan Stanley’s M&A team, led by the 41-year-old Aisha De Sequeira, the new power woman on the deal street, occupied the top slot in the three prominent deal league tables even as Goldman Sachs rallied to become the number two firm in 2011.
Morgan Stanley advised transactions worth $11.2 billion, with 29.4% share of the deals by value, according to data from Thomson Reuters. Goldman Sachs, which appointed Sonjoy Chatterjee as the new India head, had 24.1% share with deals totaling $9.2 billion, climbing up from tenth position in the previous year, the data showed. In 2011, India’s announced M&A activity stood at $38 billion sharply down from $51 billion in the previous year.
The listings by Mergermarket, Bloomberg and Thomson Reuters said Avendus Capital was the only local investment banker among the top 10 deal makers. Avendus Capital had 5.8% share of the market after being involved in deals worth $2.2 billion last year, according to Bloomberg.
“We have unique insights into global companies perspectives on India and key structuring considerations for both inbound and outbound deals. Morgan Stanley’s global connectivity, strong relationships in India and leadership position in international investment banking are critical factors,” said Morgan Stanley MD Aisha De Sequeira, who spearhead the bank’s M&A practice since its independent entry into the country in 2007.
Morgan Stanley and Goldman Sachs were involved with the country’s biggest M&A transaction where BP invested $7.2 billion in Reliance Industries’ oil and gas assets. The deal was also the biggest in emerging markets that include China, Brazil, Russia and Mexico. A deteriorating financial climate impacted India deal activity last year and merchant bankers are keeping their fingers crossed even as the first mega deal of the year, Nippon Life-Reliance Capital, kicked in last Thursday.
Nomura Holdings, which scaled down investment banking operations in the country, figured prominently in the deal charts. The other notable names in the top 10 included Bank of America Merrill Lynch, Standard Chartered Bank, Royal Bank of Scotland, HSBC and Ernst & Young.
Bloomberg data showed that Goldman Sachs and local bank Avendus made maximum gains in market share, garnering 8.6% and 5.7% additional share.
JM Financial and Kotak didn’t feature among the top 10 in the league table.
Mumbai:Morgan Stanley MD Aisha de Sequeira, a 41-year-old mother of three, including twins, is the new power woman in the high-stakes world of investment banking. She spearheaded the Wall Street firm to top slot in India’s $38 billion M&A market, with Morgan Stanley dominating all the three prominent deal league tables in 2011.
Aisha, a Morgan Stanley lifer, moved to Mumbai from New York to drive M&A deals following the split with Nimesh Kampani’s JM Financial in 2007.Aisha is the daughter of Erasmo de Sequeira, an MP from South Goa between 1967 and 1977. Her grandfather was Dr Jack de Sequeira, who founded the United Goans Party soon after the liberation of Goa.
The top deck of the investment banking industry, fancied for its million-dollar bonuses, has seen a few women leaders. They include former UBS country head Manisha Girothra, Vedika Bhandarkar of Credit Suisse, Kalpana Morparia of JP Morgan and Naina Lal Kidwai of HSBC.
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