Deutsche Bank appoints Muffazal Arsiwalla as India M&A head

Deutsch Bank has appointed Muffazal Arsiwalla as head of its mergers & acquisitions (M&A) business in India as the German Bank looks to take advantage of a renewed deal interest in the country.

Arsiwalla is one of the longest serving members in Deutsche India’s Investment Banking team, who joined the firm as an analyst in 2005.

As Head of M&A in India, Arsiwalla will continue to report to Apurva Shah, Managing Director, Investment Banking Coverage. Deutsche Bank’s IBC in India is jointly headed by Sanjay Agarwal and Rahul Chawla. In addition to his responsibility as co-head of IBC in India, Chawla also heads Deutsche Bank’s highly regarded Global Credit Trading business in the country.

“Muffazal is well-placed to take on this role, having been instrumental in driving our M&A dialogue with our priority corporate and private equity clients,” according to an internal memo accessed by The Economic Times. The contents of the memo were confirmed by a Deutsche Bank spokesman.

India is a priority market for Deutsche Bank in Asia Pacific and is home to a number of the largest conglomerates, MNCs and financial sponsors in the region, the memo said.

“The local M&A market also continues to grow and evolve, with an increasing level of cross-border activity. We have experienced strong momentum in India over the past few years, including leading the first de-SPAC transaction in India for Silver Eagle followed by Terrapin (Yatra), IHH’s acquisition of Fortis, DP World’s acquisition of Continental Warehousing, the sale of Reliance Infra’s utility business, Blackstone’s acquisition of Mphasis, the sale of Webwerks to Iron Mountain and the recent advisory role to Adani Ports,” it said.

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The appointment is coming at a time, when M&A volumes jumped 33 percent in 2020 compared to a slump in deal activity a year ago. Cross border M&A deal value jumped two folds in 2020 to $ 21 billion compared to 2019, according to data compiled by Grant Thornton.

“Indian firms with strong balance sheets have shaken off the shock from the pandemic to chase overseas acquisitions. Cross border transactions between India and the US dominated in both the inbound and outbound segments,” it said.



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