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Breaking: Khaitan & Co scoops Morgan Stanley MD Sudhir Bassi as director

Banking to legal services
Banking to legal services
Exclusive: Sudhir Bassi, Morgan Stanley managing director and head of corporate finance based in Mumbai, is set to join Khaitan & Co as a partner-level member of its capital markets practice.

Khaitan & Co Mumbai partners Rabindra Jhunjhunwala and Haigreve Khaitan confirmed that Bassi would join the firm as a executive director.

Jhunjhunwala added that Bassi was currently serving out his notice period at Morgan Stanley but might take some time off before joining the firm.

Bassi was not reachable for comment by phone or email at the time of going to press. A Morgan Stanley spokesperson did not respond to an email seeking comment.

Bassi was promoted to managing director at Morgan Stanley in January 2011 after nearly two decades in banking. In 1995, after completing an MBA from Punjabi University Patiala and three years with PNB Capital Services, Bassi had joined JM Financial Consultants, which in 1999 entered into a joint venture with Morgan Stanley to become JM Morgan Stanley, and finally Morgan Stanley.

Jhunjhunwala said about Bassi: “He has been very, very closely associated with the entire evolution of the regulatory framework and we’re going to use his strength and his understanding of the entire market to boost the capital markets practice.”

Bassi will now be joining Khaitan & Co as a full-time, executive director, responsible both for business development as well as “very hands on and involved” in transactions as bankers on deals would typically work on.

Khaitan’s capital markets team is currently led by partners Nikhilesh Panchal and Vibhava Sawant. The practice was set up by former Little & Co partner Ravi Kulkarni when he joined the firm in 2005 as senior partner.

Other executive directors, who are considered partner-equivalent members at Khaitan & Co, are Daksha Baxi – who co-heads the firm’s Mumbai tax and funds practice – and Paku Khan, who is an Irish- and US-qualified lawyer and part of the competition team in Delhi after resigning from Amarchand Mangaldas in 2011.

Photo by Fang Guo

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