Global investment bank Nomura has appointed Prabhat Awasthi as its newest Head of India, following a successful tenure with the group in its equities unit, according to a company statement.
Mr. Awasthi is presently Nomura’s Head of Equities – India. Per the appointment, he will step into the newly expanded role on April 1, 2017. In this capacity he will be based out of Mumbai and will be tasked with running Nomura’s India franchise across such asset classes as fixed income, equities, and investment banking.
The group’s current Head of India, Vikas Sharma, will himself be promoted as Nomura’s Head of Asia ex-Japan, also following nearly a decade with the bank. This paves the way for Mr. Awasthi’s appointment – Mr. Awasthi will be reporting to Mr. Sharma upon the transition.
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Mr. Awasthi steps into his role with over two decades of experience in Indian equity markets, He originally joined Nomura back in 2008 as its Head of Equity Research, India. Prior roles include stops at Lehman Brothers, JP Morgan, Morgan Stanley, and Crisil, dating back to 1994.
According to Mr. Sharma, in a statement on the appointment and transition: “Prabhat’s appointment is recognition of his outstanding achievements as Head of Equities, India, and the excellent relationships he has built with key institutional clients. I am confident he will drive this young franchise to greater success as we embark on a journey to scale up our businesses in the country.”
“I am delighted to take up this role in a world-class organization such as Nomura, which also has a very strong social value system and consciousness. My appointment from within also attests to Nomura’s culture of encouraging continuity of the leadership team, and I hope to work with all my colleagues to take the firm to the next level,” reiterated Mr. Awasthi.