At least half a dozen investment bankers from local and foreign investment banks, specialising in equity market deals, are job hopping, encouraged by a surge in capital market transactions with many Indian companies renewing their plans to raise money after a four-year lull, and the government declaring its intent to revive the disinvestment programme. Arvind Vashistha, until now a director at the investment banking division of Switzerland's UBS, is joining Citigroup Capital Markets as head of its Equity Capital Markets (ECM) business, a position which fell vacant after Bhavna Thakur quit in April. Similarly, Donald D'Souza, head of ECM at HDFC Bank, is moving over to a foreign bank, while Ajay Pancholi of Bank of America Merrill Lynch and Purvesh Shah of Barclays Capital are said to be joining rivals.

Read the Economic Times news report here.