Axis Capital makes alliance with Baird
Axis Capital, the investment banking subsidiary of Axis Bank, has tied up with Baird, an employee-owned,international financial services firm, to offer investment banking services.
The firm will initially focus on cross-border mergers and acquisitions (M and A) between India and Europe, and India and the U.S," a release issued by the bank said.
The alliance between Baird and Axis Capital is on an exclusive basis. The two banks would also get with regulatory clearance offer other investment banking services like public offerings in the U.S.and private placements of equity.
To capitalise on the cross border M and A and trade flows private sector banks have tied up with foreign banks. Recently, Kotak Mahindra Capital, the investment banking arm of Kotak Mahindra Bank,tied up with Sumitomo Mitsui Banking Corporation and SMBC Nikko Securities for cross-border M and A advisory services between India and Japan, it added.