Girish Nadkarni quits IL&FS to join Avendus

MUMBAI: The high attrition rate in investment banking and broking segment of financial services market shows no signs of abating. After CLSA and ICICI Securities, it is now the turn of IL&FS Investsmart to lose a key official.

IL&FS Investsmart COO (investment banking & institutional equity) Girish Nadkarni has put in his papers and is all set to join Avendus, which is quite active in the private equity syndication and M&A deals. Mr Nadkarni will be joining Avendus as head of equity capital market (ECM). He will also be responsible for the institutional sales and broking business. Mr Nadkarni told ET that he will be joining the company early next month and will be taking care of the capital market practice.