Nomura's India head of investment banking steps down

Nomura Holdings' (8604.T) India Head of Investment Banking Utpal Oza has stepped down from the firm, sources with direct knowledge of the matter told Reuters. Oza has left for career retirement, said one of the sources.

Amit Thawani, managing director and head of coverage investment banking has taken over from Oza, the sources said.

The company declined to comment on Friday, and Oza did not immediately respond to a request for comment.

In the last few years, Oza has, among other deals, helped Nomura sell ASK Group to Blackstone and diagnostics firm Thyrocare to healthcare firm PharmEasy.

Oza does not plan to join a rival firm and will oversee the transition at Nomura over the next few months, the sources said.

This is the second top level rejig at Nomura India this year, after it hired a new head of Equity Capital Markets in January.