Nomura has promoted Prabhat Awasthi to head of equities for India, from his current position of head of equity research. He will be responsible for delivering Nomura's strategy for equities in India and strengthening the firm's local presence. He will report to John Adair and Paul Dolan, who jointly head Asia-Pacific equities for Nomura.
"This appointment underlines Nomura's commitment to India and to achieving our goal of becoming a top five player in the local market," said Vikas Sharma, who heads Nomura's India office.
Since October 2008 Awasthi has been head of equity research for Nomura in India, a position he will continue to hold. Awasthi joined Nomura from Lehman Brothers where he held the same position. Before he joined Lehman, Awasthi was a founding member of the Brics Securities business that Lehman bought in 2007. He has also worked at J.P. Morgan and Morgan Stanley.
Nomura covers 100 large and medium-size Indian companies and its equity clients in India number around 300, including many top-tier global funds. Nomura has a full-service equities platform in India, executing cash equities, futures and options, as well as offering clearing services for futures and options, direct market access 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.