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MUMBAI: Morgan Stanley has appointed new heads for its Indian investment banking unit, promoting its senior bankers Kamal Yadav and Sachin Wagle to the role of co-heads of India Investment Banking, said a person aware of the development.

Yadav and Wagle will be responsible for client coverage and management of the investment banking business in India, the person said.

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Yadav joined the firm in 1999 and has been instrumental in building Morgan Stanley’s India banking franchise over the past 21 years, while Wagle joined Morgan Stanley in 2000. He had been heading the firm’s global capital markets practice since 2014.

The firm has also announced that Sanjay Shah will be the country head in India. He was the India co-head along with Aisha de Sequeira since 2013. Shah had joined Morgan Stanley as an associate in 1996 in the institutional equities division. He was promoted to managing director in 2005.

These changes follow the passing away of Sequeira, one of the few top women investment bankers in the country, last month. She was undergoing treatment for cancer.

The firm has also promoted Samarth Jagnani to the role of head of India, global capital markets. Jagnani joined the firm in 2007.

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