It could be one of the largest job shifts in recent times. Bank of America Merrill Lynch India head of global markets Kaku Nakhate and five of her team members are reliably learnt to have put in their papers at Merrill and joined the equities team of rival firm JP Morgan Chase in India. Ms Nakhate, one of the few top women to be heading a markets job in India, had only last month been named head of global markets at Merrill, after the integration with BoA. Although, it isn’t clear as to what Ms Nakhate and her team left, persons in the know told ET that senior officials at Bank of America Merrill Lynch tried hard to negotiate and persuade the team to stay back. The team consists of members from equity sales, trading, structured products and the fixed income team, which could greatly boost functions at JP Morgan. Both DSP Merrill Lynch and JP Morgan Chase refused to comment on the issue. Ms Nakhate is the head of global markets for India, responsible for equity sales, trading and fixed income. The other five members are Sachin Parekh, Avinash Gupta, Manish Prasad, Aditya Khansaheb and Manish Tawde. Ms Nakhate was earlier managing director and co-head, institutional equities, at the erstwhile DSP Merrill Lynch. Ms Nakhate, a management graduate from NMIMS 1988, started her career with DSP Merrill Lynch, as part of the research team and rose to the current rank. Sachin Parekh was part of the equity sales team and is based in Singapore. Avinash Gupta, Manish Prasad, Manish Tawde and Aditya Khansaheb are part of the equity sales and structured products team in India.
Source: Economic Times
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