Ambit may tie up with Global Financial Services Co

Investment banking house Ambit may announce a strategic partnership with a foreign financial services firm, a buzz that has gained momentum after the company said it will hold a press conference on Monday to make an “important announcement related to Ambit Holdings”.

The market is agog with speculation that the Ambit, owned by Ashok Wadhwa, has sold a stake to Japan's Nikko for asset management and private equity business.

Banking circles have also heard of some negotiations between Swiss private banking group Julius Baer and Ambit for wealth management business.

(Contributed by Nishanth)