Mumbai, Sept. 23: Standard Chartered Bank today announced its foray into corporate advisory services. The new business unit would advise on mergers & acquisitions, capital & financial structuring, acquisition financing, private placement, strategic partnerships and joint ventures.
The venture into corporate advisory services is part of the bank’s focus on wholesale banking which contributes around 60 per cent of the its profits in the country.
The venture will help the bank service growth aspirations of large companies by providing comprehensive strategic financial solutions, senior officials of the bank, led by CEO Chris Low, said here today.
The bank plans to grab a 10 per cent of the market share, billed at close to Rs 150 crore in terms of fees, in the next two years. V. Anantharaman has been appointed as head of the bank’s corporate advisory services in India. He comes from Deutsche Bank where he was head of corporate finance for India. Prahalad Shantigram of DSP Merrill Lynch is joining the team as managing director.
“With the introduction of corporate advisory services, we will now offer a comprehensive range of services to our corporate clients,” M. A. Ravikumar, regional head, global markets, Standard Chartered Bank, said.
Kumar said that this was the right time to launch corporate advisory services in the country as the economy was looking up and companies are expected to get into ‘investment mode’.