Credit Suisse has made 11 appointments in its Indian investment bank, across its equities, fixed income and investment banking sections. These comprise five directors and six vice presidents.
The equities hires include Graham Lappin, Anubhav Kanodia, Anantha Narayan, Jatin Chawla and Sandeep Mathew. The appointments follow the launch of Credit Suisse's Mumbai branch, which received its licence from the Reserve Bank of India in August 2010.
Lappin, who joins as a director in equity sales, was previously an executive director and head of equity sales at Royal Bank of Scotland in Mumbai. He had worked with RBS for close to 10 years in Mumbai and Hong Kong. He also previously worked with Merrill Lynch in Hong Kong.
Kanodia joins from HSBC as a vice president in equity sales based in Singapore. Lappin and Kanodia will report to Sangram Singh, Credit Suisse's head if equity sales for India.
Anatha Narayan joins as a director in equity research, covering the IT and mid-cap sectors. Narayan was previously at ICICI Securities, where he was co-head of equities. Before that, he worked at Morgan Stanley and Asian brokerage and investment group CLSA.
Jatin Chawla joins as a vice president in equity research, covering the Indian auto sector. He joins Credit Suisse from financial services company India Infoline, where he was the lead auto analyst. Sandeep Mathew also joins as a vice president in equity research, covering the real estate sector. He was previously with BNP Paribas Securities Services.
Narayan, Chawla and Mathew will report to Ashish Gupta, Credit Suisse's head of equity research for India.
Credit Suisse's Mumbai branch enables the bank to accept deposits and use its balance sheet to provide financing to clients, complementing the capabilities of the firm's non-bank financial company in India. The licence also permits Credit Suisse to deal in Indian government securities, other domestic fixed income products and foreign exchange.
The company signed a strategic agreement
with India-based HDFC Asset Management Company to facilitate access to India for international investors, in February 2011.