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.
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