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Report: Mirae Asset Daewoo to set up Indian i-bank operations

South Korea-based Mirae Asset Daewoo Co. Ltd. plans to invest US$300 million to establish investment banking operations in India, The Economic Times reported May 10.

Benedict Ryu will lead Mirae Asset Capital Markets India, while Aditya Loonkar and Anshul Mittal will be co-heads of investment banking. Ryu previously headed Mirae Asset's Indonesian capital markets, while Loonkar and Mittal were hired from Investec and Tata Capital.

A Mirae Asset Capital spokesperson declined to comment, the publication reported.

The Mirae group has operated an asset management arm in India since 2007.