Icelandic Kaupthing Bank has acquired a 20 per cent stake in FiNoble Advisors, an investment services company, in India, with an option to acquire the remaining 80 per cent in five years.

The investment in FiNoble, which was founded in 2004 and is based in New Delhi, creates a foothold for Kaupthing in the fast growing Indian financial market.

FiNoble has 25 employees and its main emphasis is on traditional M&A advisory services. It currently focuses on advising Indian companies on acquisitions in Europe and US and non-domestic firms on entry into the Indian market.

Kaupthing, which in the UK owns Singer & Friedlander, is known to be committed to expanding its global reach in its private client side too.

Next month Adam Hunt joins Kaupthing Singer & Friedlander as an investment director within Singer & Friedlander Investment Management from Kleinwort Benson Private Bank.

Mr Hunt deals primarily with Middle Eastern and Asian high net worth clients and will establish and grow KS&F in these markets.