New Delhi, June 12 -- Motilal Oswal Investment Banking, the investment banking arm of the domestic financial services conglomerate, has hired a senior executive from Ambit group, which offers various financial services such as investment banking, asset management, wealth management, institutional equities and SME lending, people aware of the development told VCCircle.

Emails sent to Motilal Oswal and Ambit didn't elicit a response till the time of publishing of the story.

Motilal Oswal Investment Banking, which was set up in 2006, has roped in Ambit's managing director and head of digital and new age business Pratik Sethi, who is currently on gardening leave with Ambit, according to the people VCCircle spoke to.

Sethi brings nearly two decades of experience across investment banking, private equity and venture investing. He spent more than nine years at Ambit, where he most recently served as managing director and head of digital and new-age businesses, advising startups and technology-led companies on fundraising, mergers and acquisitions (M&A), and strategic transactions.

Prior to Ambit, he was a principal at Ambit Pragma Ventures, focussing on early-stage investments in consumer and healthcare companies. Previously, he had worked at growth-stage investment firm BCP Advisors.

Earlier in his career, Sethi held investment banking and corporate finance roles at EY and PwC. An alumnus of the Indian Institute of Management (IIM) Lucknow and Netaji Subhas Institute of Technology, he has advised and invested across sectors including technology, consumer, healthcare and financial services.

Motilal Oswal Investment Banking advises companies on M&A, private equity fundraising, equity capital markets transactions and strategic capital raising.

The platform has built a presence across sectors such as technology, consumer, financial services, healthcare, manufacturing and new-age businesses, and works with companies across their growth lifecycle, from private fundraising to public market transactions.

The business is led by Amit Ramchandani, who joined the firm as chief executive officer of investment banking after previously serving as managing director at IDFC First Bank's investment banking division.

Published by HT Digital Content Services with permission from VC Circle.