Mumbai: Avendus has elevated Karan Sharma to managing director and head of investment banking, effective immediately, marking a key leadership transition at the financial services firm following Japan’s Mizuho Financial Group’s acquisition of a controlling stake last year.
Sharma succeeds Gaurav Deepak, co-founder and chief executive of Avendus Group, who has overseen the investment banking franchise and the broader firm for several years. The move will provide dedicated leadership for the investment banking business while allowing Deepak to focus on Avendus’ wider strategic priorities, the company said in a statement on Monday.
The appointment comes about six months after Mizuho acquired a majority stake in the home-grown investment bank, enabling private equity firm KKR & Co. to fully exit its nine-year investment. Since the deal, has seen some senior departures, including Anshul Gupta, who headed healthcare, and Prateek Jhawar, who led infrastructure and .
Sharma has been with Avendus for 15 years and played a key role in building its digital and technology practice into a leading private equity and M&A advisory franchise. In his new role, he will oversee the strategic direction of the investment banking business, drive growth initiatives and strengthen the firm’s institutional capabilities.
“As we look ahead, my focus will be on strengthening client partnerships, deepening our sector expertise,” Sharma said in the statement.
“Karan’s leadership, his ability to build and develop teams, his deep client relationships and his role as an ambassador of our culture over the past 15 years make him the natural choice to lead it, backed by a talented set of leaders scaling their own verticals,” said Deepak.
“With Karan taking on this responsibility, I will be able to focus more fully on the firm’s broader strategic priorities, deepen engagement with our clients, and help shape the next phase of growth for Avendus,” Deepak added. “As Avendus grows in scale and ambition, we have reached a point where the next phase of growth requires dedicated leadership for our investment banking franchise.”
Founded in 1999 by Deepak, Ranu Vohra and Kaushal Aggarwal, the Mumbai-based Avendus began as an online platform connecting founders and investors before evolving into a full-spectrum financial services institution. Over the years, it has emerged as a prominent player in India’s technology and