Ambit Capital’s institutional equities business has seen a second senior level exit in a short period. The brokerage’s head of equities, Pramod Gubbi, has quit the firm after bring onboard for nearly eight years. September 30 was his last working day at the company. Gubbi has joined Marcellus Investment Managers, founded by Saurabh Mukherjea, Ambit Capital’s former CEO. Mukherjea had quit Ambit in April this year after an eight-year stint. Nitin Bhasin will now lead the institutional equities business. There were rumours that some analysts had also left Ambit along with Gubbi, but Ambit Holdings’ Group CEO Ashok Wadhwa said that four people from equity capital markets and research teams had left Ambit in September after the bonus payout. Wadhwa said these resignations were unrelated to Gubbi’s exit and that the firm had hired nine people recently as replacements for recent exits and new additions.
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