UBS Securities has appointed Ashutosh Prajapati, a former Director at Jefferies, as its new Head of Equity Capital Markets in India. This hire is part of the Swiss bank's strategy to expand its investment banking presence and secure a larger share of capital-raising deals in the country.
UBS Securities has announced the appointment of Ashutosh Prajapati as its new Head of Equity Capital Markets (ECM) for India. Prajapati, who transitions from his current role as a Director at Jefferies, will lead the bank's efforts in advising companies on fundraising, share sales, and IPOs. This move is a strategic step for the Swiss financial giant as it looks to strengthen its investment banking footprint in the Indian market.
Over Two Decades of Advisory Experience
Prajapati brings more than 20 years of professional experience in financial services. His tenure at Jefferies spanned over four years, where he was involved in various equity capital transactions. Before his time at Jefferies, he held significant roles at major financial institutions, including Morgan Stanley and Edelweiss Financial Services. His deep experience with both global and domestic firms is expected to help UBS navigate the complexities of the Indian regulatory and market landscape.
Strategic Expansion in Mumbai
The recruitment of a senior leader comes alongside UBS's recent efforts to solidify its operations in India. The bank has opened a new, integrated office in Mumbai designed to bring its Global Banking, Global Markets, and Global Research teams together under one roof. By centralizing these functions, the bank aims to offer more efficient and comprehensive solutions to its clients, moving away from a siloed approach.
The equity capital market in India is highly competitive, with both global investment banks and local brokerage houses vying for mandates from large corporations and new-age companies. For UBS, the success of this strategy will rely on its ability to integrate its new leadership with its expanded infrastructure to win large deals. Investors and market watchers will monitor the bank’s progress in securing new mandates and its ability to maintain profit margins in an industry where competition often puts pressure on advisory fees.