Jefferies Financial Group Inc. is hiring about 10 investment bankers in India as the US consultancy looks to expand its operations in the world’s most populous country, people familiar with the matter said Bloomberg.

According to the report, the firm is looking for bankers ranging from associate to managing director to expand its team in India to around 25 people.

Those new positions will be focused on sectors like infrastructure and industrials, the staff said Bloombergwho asked not to be named as the information is private.

Meanwhile, the New York-based firm has expanded its presence in Asia Pacific and is looking to capitalize on its stronger position as a consulting firm in other markets like the US and Europe.

It is among the banks that plundered Credit Suisse’s talent pool after a state-sponsored takeover by UBS Group AG prompted a string of exits.

Veteran Credit Suisse banker Rizal Gozali is set to join Jefferies next month, while Felicity Chan, co-head of Credit Suisse’s Asia-Pacific equity capital markets syndicate, will also join the US company, Bloomberg News reported.

Late last year, Jefferies moved its Asia headquarters to a new office in Hong Kong. According to its website, the company has offices in Mumbai, Beijing, Melbourne, Singapore, Sydney and Tokyo in Asia.

Jefferies’ plans come even as India becomes the next potential growth engine for bankers and investors as China’s business activity slows significantly amid economic concerns and geopolitical tensions. Singapore’s Temasek Holdings Pte plans to invest up to $10 billion in India in three years and hire another four to five investment professionals, India chief Ravi Lambah said in an interview last month.

(With contributions from Bloomberg)