Nomura has announced the appointment of Prabhat Awasthi as Head of Equities, India. Awasthi will be responsible for the delivery of Nomura's strategy for Equities in India and strengthening the firm's local presence.
Awasthi will report to John Adair and Paul Dolan, Joint Heads of Equities, Asia-Pacific.
'Prabhat's leadership and contribution to the build-out of the India franchise means he is well qualified for this position. He has over 17 years' experience in the Indian equity markets and brings invaluable experience and relationships to the role', says Paul Dolan, Joint Head of Equities, Asia-Pacific.
Vikas Sharma, President &CEO, Nomura Financial Advisory & Securities, adds: 'This appointment underlines Nomura's commitment to India and to achieving our goal of becoming a top five player in the local market. We will continue to hire the best talent in the industry and promote exceptional individuals from within the team'.
Awasthi joined Nomura in October 2008 as the Head of Equity Research, India, which he will continue to oversee. Prabhat joined Nomura from Lehman Brothers, where he held the same position. Prior to that, Prabhat was a founding member of the Brics Securities business acquired by Lehman Brothers in 2007. Mr. Awasthi built successful careers at JP Morgan, Morgan Stanley and Crisil where he began his career in 1994. Under his leadership, the India research team has been best in class and achieved runners up positions in the Institutional Investor rankings in 2004, 2007 and 2011.
Since 2008, Nomura has on-boarded over 300 Equities clients in India including many top-tier global funds and expanded its research coverage to 110 large and mid cap Indian companies. Nomura has a full service Equities platform in India, executing Cash Equities, Futures & Options, as well as offering clearing services for Futures & Options, Direct Market Access (DMA) and a wide range of algorithms for electronic trading clients. Nomura also provides advisory for Structured Product offerings and is an issuer of Equity Linked products.