UBS makes India moves

Bank names Sandeep Bhatia as head of equities for India and relocates Ranjit Hosangady to Mumbai from London.
UBS has announced several internal moves in its India equities business.

Sandeep Bhatia, presently the firmÆs head of India research, has been named head of India equities. Bhatia will carry both positions for UBS and report to Chi-Won Yoon, the Swiss firm's head of Asian equities. His appointment to the new role comes as UBS plans to bolster its research product in the region.

ôTo ensure that we retain our market leading position, we plan to make further hires to the research team in coming months,ö says Yoon.

Bhatia has worked at UBS for over a decade and in his new role, will work closely with senior management to identify new strategic opportunities. He assumes the head of Indian equities role after Ashwini Agarwal, left earlier this month to take up an opportunity on the buyside.

In another move to boost its India franchise, UBS will relocate Ranjit Hosangady from London to Mumbai to take on the role of head of equity sales. He has worked for UBS since 2000 and was most recently on its Asia sales desk in London.

Prior to joining UBS, Hosangady was a portfolio manager on the Asian investment team at M&G Investment Management.

In his new position, he will report functionally to Michael Chin, head of Asian equity sales and locally to Bhatia. The same reporting line will also be established for Bharat Agrawal and Anjali Bharvani, who have also joined the UBS India sales team in recent times.

Elsewhere at UBS in India, the firm has also brought in six new people in its cash, trading and execution business. The new recruits will report to Premal Madhavji, who is responsible for cash trading and execution in India and has been with UBS for four years. He answers to Rob Flynn, head of Asian cash trading and execution, and locally to Bhatia.
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