Mumbai: A senior trader at India’s ICICI Bank has resigned to join investment bank Lehman Brothers, two sources familiar with the matter said on Tuesday, 28 August.
Neeraj Gambhir, senior general manager, who spent about eight years at the Mumbai-based bank, is likely to head the financial markets division at Lehman’s India operations, they said.
A spokesman at ICICI confirmed Gambhir, who is also the chairman of Fixed Income, Money Market and Derivatives Association of India, has resigned from the country’s second-largest lender.
Lehman Brothers was not immediately available for comment.
Last month, Lehman poached a senior trader from Citigroup’s India operations to head its treasury business.
International firms such as Goldman Sachs and UBS have been on a hiring spree from rivals to bolster their presence in the fast growing Indian market.