IIFL-Auerbach Grayson: Mutual Decision to End Partnership

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After nearly one and a half years of association, IIFL and Auerbach Grayson have mutually decided to part ways. The partnership will terminate with effect from 10th of June, 2009.

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After nearly one and a half years of association, IIFL and Auerbach Grayson have mutually decided to part ways. The partnership will terminate with effect from 10th of June, 2009.

In line with the goal to build a direct presence in US, IIFL has recently hired Anindya Chatterjee to head its efforts in the US. Anindya brings more than fifteen years of capital markets experience to IIFL. Prior to joining IIFL, Anindya has held senior roles as Managing Director at Jefferies & Co, where he headed Emerging Asian (China & India) equity research, as Strategist and Economist focused on Non-Japan Asia for Bear Stearns & Company in Hong Kong, IDEA INC. in New York, and NatWest Markets in Singapore. He also was the Head of Research at ANZ Investment Bank in India.

IIFL is the institutional equities division of India Infoline Ltd. In less than two years, IIFL has already won recognition from a number of clients as a house with top-quality, incisive and timely research. IIFL's client roster includes leading foreign and domestic institutional investors. India Infoline is a listed multi-services financial services company with a market capitalization of about US$1 billion. IIFL currently has offshore offices at New York, Dubai and Singapore.

About IIFL

IIFL is a premier institutional equities house with activities spanning investment banking, equity research and private equity. Headquartered in the financial hub of Mumbai, India; IIFL has overseas offices in Singapore, Dubai and New York. With a team of 25 research analysts, IIFL provides in-depth analysis of India with plans to extend its presence to other Asia Pacific markets.

IIFL is a part of the India Infoline group, which is one of the leading players in the Indian financial services space spread over 1,361 business locations in 428 cities across India. India Infoline offers advice and execution platform for the entire gamut of financial services ranging from Equities, Commodities, Wealth management, Asset management, Insurance, Loans, Investment Banking. It owns and manages the website, http://www.indiainfoline.com, one of India's leading online destinations for personal finance, stock markets, economy and business.

India Infoline has been awarded the 'Best Broker, India' by FinanceAsia, the 'Most improved brokerage, India' in the AsiaMoney polls, and 'Fastest Growing Large Broking House' award by Dun & Bradstreet. India Infoline's research is worldwide on international wire services like Bloomberg, Thomson First Call and Internet Securities where it is amongst one of the most read Indian brokers.

Anindya Chatterjee, IIFL Inc
28 West, 44th Street,
16th floor,
New York - NY 10036
Tel : +1 646 212 3991
Fax : +1 646 429 1495

Harshad Apte, India Infoline Ltd.
75, Nirlon Complex,
Off: W.E.Highway, Goregaon (East),
Mumbai – 400065
Tel : +91 22 4249 9300
Fax : +91 98676 86233

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Anindya Chatterjee
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