JPMorgan Names New Co-Heads for India Investment Banking
JPMorgan Chase & Co. has named Nitin Maheshwari and Ravi Shankar as co-heads of investment banking for India, following the departure of Navin Wadhwani. The appointments aim to bolster the US lender's market presence in one of its key growth regions.
Bank spokesperson confirmed such information in an internal memo. Maheshwari will take up previously held positions as head of mergers and acquisitions and financial sponsors for India, and Shankar will manage the technology, media, telecommunications, consumer, and retail sectors, which previously had been under Wadhwani.
Wadhwani joined JPMorgan in 2022 after having led M&A at Reliance Industries Ltd. and recently left the bank for other opportunities.
The new co-heads will report to Paul Uren, head of investment banking for Asia-Pacific, and Kaustubh Kulkarni, senior country officer for JPMorgan in India. Maheshwari will also continue to report to Rohit Chatterji, head of M&A for APAC.
India became a sizzling hub for dealmaking in 2024, with IPOs raking in more than $20 billion, including Hyundai Motor Co.'s local unit making $3.3 billion in the country's largest-ever listing ever.
The appointments show that JPMorgan is deepening its leadership team within a fast-growing market, and ensuring that the bank is well positioned to benefit from India's growing dealmaking activity and economic momentum.
