Nomura India’s Head of Investment Banking steps down – sources

NEW DELHI (Reuters) – Nomura’s India Head of Investment Banking Utpal Oza has stepped down from the firm, sources with direct knowledge of the matter told Reuters.

Amit Thawani, managing director and head of coverage investment banking has taken over from Oza, the sources said.

The company did not respond to a request for comment.

In the last few years, Oza has, among other deals, helped Nomura sell ASK Wealth Management to Blackstone and diagnostics firm Thyrocare to healthcare firm PharmEasy.

He does not plan to join a rival firm and will oversee the transition at Nomura over the next few months, the sources added.

This is the second top level rejig at Nomura India this year, after it hired a new head of Equity Capital Markets in January.

(Reporting by M. Sriram, Writing by Sakshi Dayal; editing by David Evans)