JP Morgan Expanding its Indian Equities Team in India

May 17, 2007	(Be the first to rate this story!)  Loading ...
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JP Morgan, a leading financial services firm with global presence and impact, has increased its India equities team by recruiting 6 more people in Mumbai.  The company is trying to carve out a niche for itself in Indian equity market. It will also soon come up with a global sales team for Indian cash equities in Mumbai.

Rising incomes have encouraged several potential investors to buy equities in India, which have certainly given a push the Sensex which has marked a growth of 1.3% since January. Also, Indian equities have maintained a strong trend with the Sensex.

A bullish economy of the country is fuelling activity in several markets. And the economic fundamentals have also wooed foreign investors who have invested heavily into Indian equities. In comparison to industrialized nations, developing countries are performing better, and the Indian economy is expanding at a rapid pace with a growth rate of 9% annually, considered the fastest than China.

India offers outstanding business prospects. For that reason, the company is trying to replicate in India what has been accomplished in other upcoming markets, reasons Randolf Clinton, managing director of JP Morgan and head of equities Asia (ex-Japan).

The current appointments done in Mumbai will make for the first phase of expansion in India. It would be followed by more appointments, adds Mr. Clinton.

JP Morgan is also looking forward to expand its horizons in Indian real estate.

JP Morgan has global property fund and individual funds divided across geographies. Its property fund, which had garnered over $300 million for Indian property market, is considering coming up with a residential project in Chennai which would be developed in a joint venture with a city based real estate developer Arihant Foundations & Housing.

News Published Under:   Banking and Finance |

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