JPMorgan Strengthens India Presence with New Investment Banking Co-Heads
Mumbai, India – JPMorgan Chase & Co. (JPM) has appointed Nitin Maheshwari and Ravi Shankar as co-heads of investment banking in India. This move aligns with the bank's strategy to expand its market presence following the departure of Navin Wadhwani.
Prior to their new roles, Maheshwari served as head of mergers and acquisitions and financial sponsors for India, while Shankar led technology, media and telecommunications, and consumer and retail.
The newly appointed 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 report to Rohit Chatterji, head of M&A for APAC.
India has emerged as a significant market for deals, particularly initial public offerings, with the country raising over $20 billion in share sales in 2024. The largest listing to date was Hyundai Motor Co.'s local unit, which raised $3.3 billion.