Nomura India’s head of investment banking steps down

Finance company Nomura’s India Head of Investment Banking Utpal Oza has stepped down from the firm. 

Oza stepped down from the firm and has left for career retirement, a source told Reuters.  

Amit Thawani, the managing director and head of coverage of investment banking, will be filling in Oza’s shoes as the replacement. 

When reached out for a comment on the reports on Friday, both Oza and Nomura India refused to comment. 

During his tenure at the company, Oza played a key role in various deals, including Nomura's sale of ASK Group to Blackstone and the sale of diagnostics firm Thyrocare to healthcare firm PharmEasy. 

The sources revealed that Oza does not have plans to join a competing firm and will assist with the transition at Nomura over the next few months.

This marks the second major restructuring at Nomura India this year, following the appointment of a new Head of Equity Capital Markets in January.

Earlier in January, Nomura hired Mahesh Natarajan to head its equity capital markets business after Mangesh Ghongre quit the company and left the post vacant. Natarajan previously led the ICICI Securities equity capital markets business.