The UK-based investment bank, Lazard Group, is likely to enter the Indian asset management business through Lazard India, joining the likes of JP Morgan, AIG, UBS and Dawnay Day, which have entered the booming Indian mutual fund business in recent months.
Lazard India was set up by international banker Udayan Bose and is now a full-owned subsidiary of Lazard, UK, after Bose sold his stake in 2004.
Lazard India CEO and Managing Director K Balakrishnan said, “We are very opportunistic and keep evaluating options. India is a good market and we will enter the asset management space in India at the right time.”
According to a recent Thomson Financial report, Lazard is among the top 10 financial advisors and was involved in 5 deals in India. Globally, its asset management business provides investment management and advisory services to institutional clients, financial intermediaries, private clients and investment vehicles.
Read more in The Business Standard article.
Showing posts with label AIG Capital. Show all posts
Showing posts with label AIG Capital. Show all posts
Tuesday, June 12, 2007
Thursday, June 7, 2007
Tatas plan umbrella entity for finance arms
The Tatas are working on a proposal to consolidate their financial service businesses under one company.
The group has a host of companies in the financial services space that include Tata Financial Services, Tata Investment Corporation Ltd, Tata Asset Management, Tata Securities, one of which is listed on the Bombay Stock Exchange.
Under the plan, which is still being worked out, there will be a broad group holding company under which the different businesses will be organised as divisions.
It is not clear, however, whether the group’s two insurance joint ventures —one in life and the other in general — with insurance giant AIG will be a part of the consolidation exercise.
Read more in The Business Standard article.
The group has a host of companies in the financial services space that include Tata Financial Services, Tata Investment Corporation Ltd, Tata Asset Management, Tata Securities, one of which is listed on the Bombay Stock Exchange.
Under the plan, which is still being worked out, there will be a broad group holding company under which the different businesses will be organised as divisions.
It is not clear, however, whether the group’s two insurance joint ventures —one in life and the other in general — with insurance giant AIG will be a part of the consolidation exercise.
Read more in The Business Standard article.
Saturday, May 12, 2007
Sivasankaran, Future Capital lap up NBFCs
Call it the rush for retail financing. After AIG, Temasek, DB Zwirn and DBS of Singapore, it is the turn of Indian retail honcho Kishore Biyani and rookie businessman Sivasankaran to pocket small NBFC companies to move them as vehicles for consumer finance.
In a recent development, Future Capital (part of the Pantaloon Group) has acquired a small NBFC, Sivagami Finance, for an undisclosed sum, while Sivasankaran has bought the stakes in another NBFC — Abhi Ambi Finance — based in Chennai. The acquisition price of both transactions are not known. However, it is learnt that Ernst & Young was seen advising in both transactions.
RBI Sources confirmed that Future Capital has made an application to buy Sivagami Finance. The acquisition per se is no big deal in monetary terms, but it does indicate the growing appetite of companies to enter the retail financing section.
In a recent development, Future Capital (part of the Pantaloon Group) has acquired a small NBFC, Sivagami Finance, for an undisclosed sum, while Sivasankaran has bought the stakes in another NBFC — Abhi Ambi Finance — based in Chennai. The acquisition price of both transactions are not known. However, it is learnt that Ernst & Young was seen advising in both transactions.
RBI Sources confirmed that Future Capital has made an application to buy Sivagami Finance. The acquisition per se is no big deal in monetary terms, but it does indicate the growing appetite of companies to enter the retail financing section.
Thursday, May 3, 2007
Global NBFCs want to play it big in India
Top global financial firms which have acquired a foothold in the Indian non-banking finance companies’ (NBFCs) segment are now pursuing an aggressive strategy to expand their reach within the country.
Fullerton India, a subsidiary of Temasek, the Singapore government’s investment arm, is emerging as one of the most aggressive players in the financial sector. The firm is now drawing up plans to open 400 branches over the next 12 months to scale up its operations from the current base of 100 branches.
Other recent entrants in the NBFC segment include biggies such as AIG Capital while other global players — BNP Paribas and Societe Generale have also entered the business by acquiring stakes in Indian firms.
The aggressive moves by these firms come at a time when entrenched firms such as Citi Financial and StanChart’s Prime Financial have been pursuing a scorching growth strategy. Besides, the new players have to contend with local firms — Future Group and Indiabulls which have also forayed into this business during the past few years.
Read more in The Economic Times article.
Fullerton India, a subsidiary of Temasek, the Singapore government’s investment arm, is emerging as one of the most aggressive players in the financial sector. The firm is now drawing up plans to open 400 branches over the next 12 months to scale up its operations from the current base of 100 branches.
Other recent entrants in the NBFC segment include biggies such as AIG Capital while other global players — BNP Paribas and Societe Generale have also entered the business by acquiring stakes in Indian firms.
The aggressive moves by these firms come at a time when entrenched firms such as Citi Financial and StanChart’s Prime Financial have been pursuing a scorching growth strategy. Besides, the new players have to contend with local firms — Future Group and Indiabulls which have also forayed into this business during the past few years.
Read more in The Economic Times article.
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