With India remaining a potential growth market, global banks are hiring young turks in order to ensure that no stone is left unturned in their bid to reach the top.

Recently, Ganeshan Murugaiyan, 38, managing director and head of investment banking in India at UBS, resigned to join European banking major BNP Paribas, as head of its corporate banking division in India.

"I am moving to another organisation in order to pursue a wider role," Murugaiyan said, without disclosing further details. He had joined UBS Investment Bank as its head in 2006, after a 10-year stint at Merrill Lynch.

At UBS, the Swiss investment bank, Murugaiyan was instrumental in signing multi-billion dollar M&A deals. In the largest M&A deal of 2010, UBS advised Zain Telecom in its $10-billion African business sell-out to Bharti.

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Other key transactions in which Murugaiyan was involved include Vodafone's $13-billion acquisition of Hutch, $900-million dual follow-on offerings by Unitech, Reliance Industries' $3-billion joint venture with Pioneer Natural Resources and Newpek, Telenor's strategic partnership with Unitech Wireless, Bharti's formation of Indus Towers and Idea's $250-million acquisition of Escotel.

An MBA from the Indian Institute of Management, Calcutta, Murugaiyan also played a role in a few large fund-raisings - Tata Consultancy Services' $1.2-billion IPO, Hindalco's Rights offering ($400 million), Reliance Power's $2.6-billion IPO, DLF's $2.3-billion IPO, Idea Cellular's $545-million IPO, GMR's $1-billion accelerated placement, HDFC Bank's $600-million ADR and Infosys' $1.6-billion ADR.

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"A good number of deals in the telecom and information technology sectors are bound to happen in 2011. The better balance sheets and stable outlook for the growth story of Indian corporates will push for large outbound deals in 2011," Murugaiyan had said in an earlier interview.

"The Indian market grown has tremendously, whether for M&A, private equity deals or IPOs. Eyeing growth, global players are strengthening their presence across the board," he said about the increasing movements among I-bankers in India.

Murugaiyan's vast experience will come in handy at BNP Paribas.