Nomura, global investment bank, appointed Prabhat Awasthi as its new head of India, replacing Vikas Sharma, who has been promoted to head of Asia ex-Japan.
Awasthi currently leads Nomura's India equities team and his new role will give him added responsibility of the firm's fixed income and investment banking businesses in the country.
"Prabhat's appointment is recognition of his outstanding achievements as Head of Equities, India, and the excellent relationships he has built with key institutional clients," said Vikas Sharma.
He further added, "I am confident he will drive this young franchise to greater success as we embark on a journey to scale up our businesses in the country."
Awasthi completed his MBA from Indian Institute of Management, Lucknow, and holds a Bachelor's degree in Electrical Engineering from Indian Institute of Technology, Kanpur.
Awasthi, who will report to Sharma in his new role, joined Nomura in October 2008 from Lehman Brothers. Prior to that, he was a founding member of the Brics Securities business acquired by Lehman Brothers in 2007, and had stints at JP Morgan, Morgan Stanley and Crisil where he began his career in 1994.
The appointments are effective April 1, Nomura said.
