The proposed capital infusion will enable Ambit to leverage on its investment banking business to grow various businesses including institutional equities, investment advisory and private wealth advisory.
The investment represents QInvest’s first investment in India and underpins the bank’s focus on the rapidly growing Indian market. Shahzad Shahbaz, CEO of Qinvest, will join Ambit’s board.
Mr Shahbaz said: “This partnership will generate a number of synergies for both firms and will dramatically accelerate QInvest’s ambitions in India, one of the world’s fastest growing economies. We see significant opportunities for our clients and ourselves across investment management, investment banking, private equity and brokerage.”
Reportedly, as part of its plan to invest in financial services, QInvest also acquired a strategic 44% stake in Panmure Gordon, a UK listed 130 year old brokerage firm. Panmure Gordon is 100% owner of ThinkEquity, which provides equity research, investment banking, institutional brokerage and private wealth management services in the US.
Qinvest was licensed by the Qatar Financial Centre Authority in April 2007 and is regulated by the Qatar Financial Centre Regulatory Authority. The Bank has authorized and paid up capital of $1bn and $500m respectively. Its platform offers a broad range of expertise to deliver a high value service seamlessly covering client needs across Middle East, Turkey, South & South East Asia and Africa.
