The initial focus of the alliance will be on cross-border mergers & acquisitions (M&A) between India and Europe, and India and the US.

Through the alliance, the two investment banks intend to enhance their respective M&A offerings by leveraging each bank’s strong knowledge of M&A and capital markets and specific industry sectors, as well as their deep corporate relationships within those sectors.

The alliance between Baird and Axis Capital is on an exclusive basis. While the initial focus is cross-border M&A, the relationship between the two banks also encompasses other investment banking engagements, subject to necessary regulatory approvals, such as public offerings in the US and private placements of equity.

Steve Booth, director of Baird Investment Banking, said: "This strategic alliance broadens Baird’s global footprint, further expands our international reach, and enhances our overall M&A franchise by strengthening our ability to serve clients around the world.

"Along with our growing presence in China and recent addition of a senior banker focused on Japan M&A, this partnership represents another example of Baird’s ongoing investments in its global investment banking platform," Booth said.