Jackal Saysaah i forgot about the indian investment banks.. they are bigger than the indian arms of global IBs.. but if you look at the volume of business in India and the no. of employees in Indian IBs and no. of employees in firang IBs working on Indian investments.. dont u think the no.s are way too small and insignificant.. In fact if you look at the work outsourced by global banks (read KPOs both captive and 3rd party) it's a lot more.. i dont have figures to substantiate this but correct me if i am wrong..
Ya KPOs of IBs are bigger in size in India but work is being outsourced from all over the world to India. Comparing them wont be right.
Is the Indian IB industry small? I would say Yes.
Insignificant? No way!!!!
M&A; deal sizes are small and are mostly run by foreign IBs, especially the cross border ones. In IPO, undoubtedly Indian firms are kings - especially Enam, JM & Kotak. With so many PE firms coming into India for investing and many of them raising India specific funds, the activity in this area is pretty much there. Even in this lean season, my team managed to close 5 deals in the past month and most IBs are doing decently well in this front. With IPO not an option now, private placements are booming as the promoter needs to raise capital from somewhere now. Though bonuses are expected to be low this year, the IPO market is expected to pick up by November.
@suraj: well abt the Mck recruitment thing.. i have heard different views on this.. how many of those 50 are for the knowledge center??
47 of those recruited are from the IIMs and ISB ( My roomies work there and hence the exact figure
). They dont recruit for Mck Knowledge center from these colleges. In Fact, all the 50 ppl have joined Mck, India. Some were even recruited for Mck, NY/London/Brussels etc.. from the IIMs. I guess put together the figure was around 70!!!!!