Gaurav Singhvi and Sarun Agarwal have been appointed as co-heads of the equity capital markets division of ICICI Bank Ltd.’s investment banking unit. They will take over their roles on May 1st, following the departure of Pratik Loonker to join a rival firm, Axis Capital Ltd. Singhvi has over six years of experience at ICICI Securities Ltd., as well as previous roles at IIFL Capital Ltd. and JPMorgan Chase & Co. Agarwal has been with ICICI Securities for more than two years.
The Indian market for initial public offerings (IPOs) has seen a surge in recent years, leading to increased movement among investment bankers. In response to this trend, ICICI Bank is planning to make 15 new hires in its investment banking division, specifically in the areas of mergers and acquisitions, private equity, and fundraising practices. Additionally, they plan to hire another 15 professionals in sales, trading, and research positions.
However, rumors have circulated that Sandeep Bakhshi, the Managing Director and Chief Executive Officer of ICICI Bank, intends to step down. The bank has denied these reports. Meanwhile, JPMorgan’s India head of equity capital markets, Abhinav Bharti
