Global financial service provider Merrill Lynch said on Tuesday it has appointed Jayanti Bajpai as head of investment banking operations in India. Bajpai, named as head of origination for India, would take over from Patti McLaughlin, who has been leading the investment banking effort over the past year.

McLaughlin would continue to serve as vice-chairman of India Origination, supporting the firm's origination activities in India with a focus on key senior client relationships, Merrill Lynch said in a statement.

"India is a strategic growth area for Merrill Lynch," Merrill Lynch's head of Pacific Rim Origination Damian Chunilal said.

"To help us achieve this growth potential and establish greater global connectivity for our clients, we are pleased to announce Jayanti's appointment as head of Origination for India." Jayanti Bajpai joined Merrill Lynch in 1987 and has worked in New York, Singapore, Hong Kong and London in a number of senior positions.

Bajpai was a key member of Merrill Lynch's Indian Investment banking team in the 1990s and was instrumental in several landmark transactions in both public and private sectors, the statement added. DSP Merrill Lynch Limited is a leading capital markets and advisory company in India.

Global investment banker Merrill Lynch holds close to 90 per cent stake in DSP Merrill Lynch.