Axis Capital, the investment banking arm of Axis Bank, today said it has entered into a strategic alliance with international financial services firm Baird to focus on cross-border mergers and acquisitions.
Through the exclusive alliance, the two investment banks will enhance their respective M&A offerings by leveraging each one's knowledge of capital markets and specific industry sectors as well as their deep corporate relationships within those sectors, Axis Capital said in a statement.
"This strategic alliance broadens Baird's global footprint, further expands our international reach, and enhances our overall M&A franchise by strengthening our ability to serve clients around the world," Baird Investment Banking director Steve Booth said.
While the initial focus is cross-border M&As, the relationship between the two also encompasses other investment banking engagements like public offerings in the US and private placements of equity, the statement said.
"In the evolving structure of global investment banking where specialised advisory firms are of great value, we believe Baird's ambition to be the best middle market financial services firm in the world matches our ambitions for us," Axis Capital managing director and chief executive officer Manish Chokhani said.