People Moves
RBS Brings In Banking Veteran To Ramp Up Indian Equities Presence
The
Royal Bank of Scotland Group has named
Devesh Kumar to the newly created role of head of equities
for India.
Kumar brings over 20 years of banking experience to this new
post, having worked for the likes of ICICI Securities, ABN Amro,
Daewoo Finance India, and Unit Trust of India. He joins the
company from Fortune Financial Services India, where he has
served as chief executive since February 2010.
At RBS, Kumar will be responsible for cash equities, research and
sales, equity derivatives, and equity financing in India. Based
in Mumbai, he reports jointly to
Peter Irvine, the head of Asia-Pacific equities, and
Ramit Bhasin, the head of markets for India.
The firm has been actively bulking up its key business areas of
wholesale banking, investment banking, transaction services, and
private banking since it sold off its non-core businesses to HSBC
in 2010.
"India is a core market for the RBS Group and we see huge growth
potential here," said Bhasin in a media release.
"Devesh will play a key role in our plan to make RBS a top ten
equities house in the market," he added.