SBI names Praveen Gupta as new MD and CEO of SBI Capital Markets
The State Bank of India has named Praveen Gupta as its new managing director and chief executive of its merchant banking arm, SBI Capital Markets.
Gupta replaces Rajnish Kumar, who has been elevated as managing director - Compliance and Risk, State Bank of India.
The appointment comes at a time when deal flow in India has started picking up, driven by transactions in consumer internet and technology sectors, and investment banks in the country have, once again, begun to beef up their teams, across sectors, to grab a larger slice of the pie.
In May earlier this year, it was reported that Deutsch Bank, one of the world's biggest merchant banks, and which has a strong presence in the country, has brought on board has Ravi Shankar, former managing director and head of coverage—India at Avista Advisory Group, as its managing director for its investment banking operations.
Founded in 1986, SBI Capital Markets, India's largest domestic investment bank, is a wholly owned subsidiary and investment banking arm of State Bank of India, and offers the entire bouquet of investment banking and corporate advisory services.
The Mumbai-headquartered investment bank has five subsidiaries - SBICAP Securities Limited, SBICAP Trustee Company Limited, SBICAP Ventures Limited, SBICAP (UK) Limited and SBICAP (Singapore) Limited.
