A fully operational investment bank is a financial and banking company that offers both financial and advisory banking services to its clients. Aside from that, an investment bank is involved in the research, marketing, and sales of a variety of financial products such as commodities, currency, credit, shares, and so on.
India’s Investment Banking
Do you aspire to be a high-flying professional who wants to make it big in the investment industry but isn’t sure where to start?
Here’s your response. Assume you wish to work in investment banking. In that case, you should be familiar with India’s entire investment banking landscape, the list of leading investment banks, the services supplied, their culture, investment banking wages in India, investment banking jobs in India, and whether you are qualified for an investment banking position.
An Overview of Indian Investment Banking
Before delving into the specifics of investment banking in India, it is necessary to review the history of investment banking in India.
It all began in the nineteenth century. During that time, European banks began to establish trading operations in India. Foreign banks have dominated investment banking in India since that period. That, however, did not endure long.
The State Bank of India began to expand its wings in the 1970s, establishing a merchant banking department. ICICI Bank began delivering other merchant banking services in the same decade.
After a decade, banking became popular, and more than 30 merchant banks, financial institutions, and commercial banks began to establish themselves.
However, until the 1980s, banking did not receive the attention it deserved. Finally, in the 1990s, more than 1500 bankers registered with SEBI, establishing banking as an industry (Securities and Exchange Board of India).
To regulate such a large number of banks, it was necessary to establish an agency to assist banks in adhering to compliance and rules. That is how the Association of Investment Bankers of India (AIBI) began.
AIBI’s mission is to regulate the legal and ethical procedures of its members while also promoting and encouraging the industry’s growth.
List of India’s Top 10 Investment Banks
The following are a handful of India’s leading investment banks:
1. Ernst & Young
EY (Ernst & Young Global Limited)[6] is an abbreviation for Ernst & Young Global Limited. is an international professional services network headquartered in London, England.
EY is one of the largest professional services networks in the world.
It is one of the “Big Four” accounting firms, along with Deloitte, KPMG, and PricewaterhouseCoopers. Its clients largely rely on it for assurance (including financial auditing), tax, consulting, and advice services. [10] EY, like many of the largest accounting companies in recent years,[11] has grown into sectors other than accounting, such as strategy, operations, human resources, technology, and financial services consulting.
2. Price Water House Coopers, Investment Banking Arm
PricewaterhouseCoopers is a multinational professional services network of firms, operating as partnerships under the PwC brand. PwC is the world’s second-largest professional services network and one of the Big Four accounting firms, together with Deloitte, EY, and KPMG.
PwC firms employ 284,000 individuals in 157 countries and 742 locations. As of 2019, the Americas accounted for 26% of the workforce, Asia for 26%, Western Europe for 32%, and the Middle East and Africa for 5%. In the fiscal year 2019, the company’s global revenues were $42.4 billion, of which $17.4 billion came from its Assurance profession, $10.7 billion from its Tax and Legal practice, and $14.4 billion from its Advisory practice.
3. Deloitte Touche Tohmatsu Limited
Also known as Deloitte, is a multinational professional services network with operations in over 150 countries and territories worldwide. Deloitte, headquartered in London, England, is one of the Big Four accounting firms and the world’s largest professional services network in terms of revenue and number of people.
William Welch Deloitte began the firm in London in 1845, and it extended to the United States in 1890.
In 1972, it combined with Haskins & Sells to establish Deloitte Haskins & Sells, and in 1989, it merged with Touche Ross to form Deloitte & Touche. The international firm was renamed Deloitte Touche Tohmatsu in 1993 and was eventually abbreviated to Deloitte. In 2002, Arthur Andersen’s UK practice, as well as several of the firm’s practices in Europe, North and South America, and the Asia Pacific, opted to combine with Deloitte.
Monitor Group, a large strategic consulting firm, was acquired as a follow-up in January 2013. The multinational firm is a limited by guarantee UK private company supported by a network of independent legal entities.
4. Citi Bank:
One of the most well-known banking organizations in India, it has been in operation for over 106 years. This investment bank, in addition to supplying various investment banking services, offers a wide range of banking services with a capital investment of around the US $ 3.1 billion dispersed across the globe. Citibank is the consumer business of the financial services conglomerate Citigroup.
Citibank was formed in 1812 as the City Bank of New York and later changed its name to the First National City Bank of New York. The bank operates 2,649 branches in 19 countries, including 723 in the United States and 1,494 in Mexico through its subsidiary Banamex.
5. A. G. Credit Suisse:
Credit Suisse, which has offices in India’s key cities of New Delhi and Mumbai, offers a variety of security and investment banking services in the country. This organization’s specializations include financial advising services as well as equity underwriting to national multinational companies.
Citibank is the consumer business of the financial services conglomerate Citigroup. Citibank was formed in 1812 as the City Bank of New York and later changed its name to the First National City Bank of New York. The bank operates 2,649 branches in 19 countries, including 723 in the United States and 1,494 in Mexico through its subsidiary Banamex.
6. Deutsche Bank:
As a global leader in investment banking, this bank has a profitable and robust customer franchise in the private sector. They provide unrivaled services to the financial sector on a national and worldwide scale.
Deutsche Bank AG is a German international investment bank and financial services corporation headquartered in Frankfurt, Germany, and dual-listed on the Frankfurt and New York stock exchanges.
The bank’s network extends throughout 58 countries, with a strong presence in Europe, the Americas, and Asia.
As of 2020, Deutsche Bank was the world’s 21st largest bank by total assets and 63rd largest by market capitalization. It is a component of the DAX stock market index as the largest German financial institution. The Financial Stability Board classifies it as a systemically important bank.
7. J. P. Morgan:
In 1930, this world-famous bank established its operations in the country. This well-known foreign bank specializes in both investment consulting services and wholesale investment banking.
John Pierpont Morgan (April 17, 1837 – March 31, 1913)]was an American financier and investment banker who dominated Wall Street corporate finance during the Gilded Age. He was the driving force behind the wave of industry consolidation in the United States that spanned the late nineteenth and early twentieth centuries as the president of the banking corporation that eventually became known as J.P. Morgan and Co.
During his Wall Street career, J.P. Morgan was instrumental in the development of several notable international firms, including U.S. Steel, International Harvester, and General Electric, which later came under his control. He and his associates also controlled a number of other American companies, including Aetna, Western Union, Pullman Car Company, and 21 railroads.
8. Kotak Mahindra Bank Limited:
In addition to being one of India’s largest banks, this financial institution is also well-known in the country’s investment banking sector. Their affiliate Kotak Investment Banking offers a comprehensive variety of high-quality capital-marketing and financial-advising services. Kotak Mahindra Bank Limited is a Mumbai-based
Indian banking and financial services firm. It provides corporate and retail customers with banking products and financial services in the fields of personal finance, investment banking, life insurance, and wealth management. As of November 2021, it is India’s third largest private sector bank in terms of assets and market capitalization.
The bank has 1600 branches and 2519 ATMs as of February 2021.
In 2021, the bank acquired a 9.99 percent stake in Ferbine, a Tata Group-promoted entity that will operate a Pan-India umbrella entity for retail payment systems, similar to the National Payments Corporation of India.
9. JM Financial (JMFL
JM Financial (JMFL) is an Indian financial services business based in Mumbai with offices throughout the country. It also has international subsidiaries in Ebene, Singapore, New Jersey, and Dubai, while the majority of the group’s operations are in India.
Nimesh Kampani established JM Financial in 1973 as a consultancy practice. It was formed in 1986 as a private limited company to operate in the business of stockbroking. It became a publicly-traded company group in 1991 when it floated on the Bombay Stock Exchange, and it held a secondary listing on the National Stock Exchange of India in 2006.
10. Yes Bank Limited:
Since its inception in 2004, this customer-centric and service-driven bank in India has expanded into the investment banking industry as well as many other wealth management services in the country.
Yes Bank is an Indian public sector bank located in Mumbai, India. It was created in 2004 by Rana Kapoor and Ashok Kapur.
Through retail banking and asset management services, it provides a diverse range of specialized solutions to corporate and retail consumers.
The Reserve Bank of India (RBI) took control of the bank on March 5, 2020, in an attempt to prevent its collapse due to an excess of bad loans. The RBI later restructured the board, naming Prashant Kumar, former chief financial officer and deputy managing director of State Bank of India, as MD & CEO of Yes Bank, as well as Sunil Mehta, former non-executive chairman of Punjab National Bank, as Yes Bank’s non-executive chairman.
