Indian financial services group
JM Financial has hired three senior executives from rival Bank of America-Merill Lynch to lead its fixed income and asset reconstruction unit, Finance Asia reports.

BoA-Merrill Lynch ex-country treasurer Sanjeey Bajaj and former head of debt capital markets Shashwat Belapukar will be joining the billionaire Nimesh Kampani-owned firm as its managing directors for fixed income, while ex-mid-level employee Dhiraj Dave will be taking an associate directorship post, the publication said.

The company has yet to make an official comment on the move, but insiders said they expect the changes to take effect within a week.

JM Financial is an integrated financial services group, offering a wide range of services to corporations, financial institutions, high net worth individuals and retail investors. In its quarter to 30 June results, its total assets under management stood at around Rs6,365 crore (approximately $1.32 billion).