Ambit Capital has hired Saurabh Mukherjea as managing director, head of equities, as the firm moves to expand its product offerings.

Mukherjea is currently on gardening leave from Execution Noble, where he headed the insitutional equities business. Execution Noble is the company that took over the equity research firm he co-founded, Clear Capital, in 2003.

At present, the equity business is being supervised by Andrew Holland, who can then focus on Ambit's investment advisory business after Mukherjea takes up his post. Both appointees will report to Ashok Wadhwa, group chief executive.

Ambit Capital is the brokerage arm of the Ambit Group, which offers securities brokerage, equity research, institutional broking, private client group, private wealth management, and portfolio management services. It is split into three main business lines: institutional equities, private wealth, and asset management.