Deutsche Bank has hired Sanjay Agarwal to lead its Indian corporate finance business. Agarwal was previously co-head of investment banking at Kotak Mahindra Capital, the local JV partner of Goldman Sachs. Agarwal will join Deutsche as head of global corporate finance in Mumbai and will report directly to Philip Crotty, the group's regional head.

Deutsche has been pushing to establish its corporate finance business on the ground in India, having previously run the business from offshore. But in September 2003, V Anantharaman, Agarwal's predecessor, left to help Standard Chartered establish its own corporate advisory business.

The arrival of Agarwal, it is hoped, will help the bank renew its push into India. "The further development of our corporate and investment banking franchise in India is a global priority," says Gunit Chadha, Deutsche's CEO in India.

In January Deutsche also lost its relationship management head, Carl Saldanha, who moved to Jet Airways. His position was filled by Nanvit Gill.