Axis Capital partners with Baird for cross-border M&A, other i-banking services

Axis Capital, the investment banking subsidiary of Axis Bank, and the US-headquartered Baird, an employee-owned financial services firm, have announced a strategic alliance for investment banking services, with an initial focus on cross-border mergers & acquisitions between India & Europe and India & the US.

Through this alliance, the two investment banks will be able to enhance their respective M&A offerings.

The alliance between Baird and Axis Capital is on an exclusive basis, the latter stated. While the initial focus is cross-border M&A, the relationship between the two banks will also encompass other internet banking engagements such as public offerings in the US and private placements of equity, subject to necessary regulatory approvals.

Commenting on the alliance, Steve Booth, director of Baird Investment Banking, said, “This strategic alliance broadens Baird’s global footprint, further expands our international reach and enhances our overall M&A franchise by strengthening our ability to serve clients around the world. Along with our growing presence in China and the recent addition of a senior banker focused on Japan M&A, this partnership represents Baird’s ongoing investments in its global investment banking platform.”

Manish Chokhani, MD & CEO of Axis Capital, said, “In the evolving structure of global investment banking where specialised advisory firms are of great value, we believe Baird’s ambition to be the best middle market financial services firm in the world matches our ambitions for Axis Capital.”

Baird is an employee-owned, international capital markets, private equity, wealth & asset management firm with offices in the US, Europe and Asia. Since 2007, it has advised on more than 230 M&A transactions worth $43 billion and has served as lead or co-manager for 250 equity offerings, raising more than $76 billion.

Recently, Kotak Mahindra Capital Company, the i-banking subsidiary of Kotak Mahindra Bank, has entered into an exclusive strategic alliance with Sumitomo Mitsui Banking Corporation (SMBC) and SMBC Nikko Securities (SMBC Nikko), a wholly owned subsidiary of SMBC, for cross-border M&A advisory services between India and Japan.

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Kotak I-banking unit partners Sumitomo Mitsui Banking for India-Japan deals

(Edited by Sanghamitra Mandal)