Credit Suisse launches Securities Brokerage in India

Mumbai, Mar 20 (UNI) One of the leading bankers behind the Tata-Corus mega-deal, Zurich-based Credit Suisse today officially commenced its agency securities brokerage operation in India.

Credit Suisse CEO (Asia-Pacific) Paul Calello said ''We were one of the three lead bankers instrumental in successfully putting together the Tata-Corus deal. After that there has been no looking back. We now hold a broker dealer license in the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). We intend to focus on equity sales, trading and research in India.

This initiative displays our commitment to India.'' He was here for the official launch of Credit Suisse Securities (India) Private Limited's new office at Ceejay House.

Credit Suisse Country Head (India) Mihir Doshi said ''We believe that we have brought together one of the most capable teams of professionals in the market and will continue to expand in a prudent manner. We expect the Indian Economy to grow by 10 per cent in the fiscal year 2007-08.'' Talking to mediapersons Mr Doshi said that now India is so deeply integrated with the world economy that any weakness in global capital markets is promptly reflected on Indian bourses.

''Last week, the Sensex crashed on the Bombay Stock Exchange (BSE) on weak global cues. For the past two days, they have firmed up again on strengthening global markets,'' he explained.

When asked if they intended to start a Mutual Fund also, Doshi replied in the negative. ''We have not applied for any Mutual Fund license with the Securities and Exchange Board of India (SEBI),'' he added.

UNI