BANKING AND FINANCE

New Investment Bankers to Open in India: CS First Boston tied up with an Indian investment bank and Morgan Stanley won permission to open an office in India, joining a host of international names entering the country to take advantage of its economic reforms. CSFB announced it allied itself with J.M. Financial & Investment Consultancy Services, one of India’s biggest private investment banks. Morgan Stanley said the government had given it a go-ahead to set up an investment banking liaison office in Bombay. “India, along with China, today provides the biggest opportunities for investment banking,” said Robert Baylis, chairman, Pacific, of CSFB. “But India could probably become the biggest if China does what it has been indicating recently, to limit the number of issues from its companies and limit returns on investments.”