Merrill to expand in India, says report

Merrill Lynch & Co. Inc. plans to invest $1 billion to expand its Indian operations over the next two years, according to a Financial Express report.
The firm plans to hire more investment bankers, debt and equity specialists and research analysts to meet increasing competition from rivals such as Goldman Sachs Group Inc., Lehman Brothers Holdings Inc. and Credit Suisse Group, according to the report, which cited unnamed government sources.
Merrill Lynch vice chairman and chief administrative officer Ahmass Fakahany was recently in New Delhi meeting officials at the finance, commerce & industry and ministry officials, the newspaper said.