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HSBC India Investment Banking Head Sunil Sanghai Quits

The new joint venture will combine Dhruva's tax structuring expertise and Sanghai's experience in executing complex mergers and acquisitions

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HSBC Holdings’ India investment banking head Sunil Sanghai has left the bank to start an investment banking joint venture with Dhruva Advisors, the tax and regulatory consulting firm said in a statement late on Monday (29 August).

The new joint venture will combine Dhruva's tax structuring expertise and Sanghai's experience in executing complex mergers and acquisitions, it said.

Dhruva was founded by Dinesh Kanabar, formerly a deputy chief executive for KPMG India.

Sanghai, who has been with HSBC since 2010, previously worked with Goldman Sachs and Morgan Stanley.

(Reuters)