Kumar will be responsible for all of RBS’s cash equity (research and sales), equity derivative and equity financing businesses in India.
Based in Mumbai, he will be reporting jointly to Peter Irvine, head of Asia Pacific Equities and Ramit Bhasin, head of Markets, India.
Kumar will join RBS from Fortune Financial Services India, where he was the group CEO. Prior to that, he held several roles at Centrum Broking and ICICI Securities, where he built their equities business, as well as ABN Amro Asia Equities, Daewoo Finance India, WI Carr, Unit Trust of India and IDBI Bank.
Irvine said that with more than twenty years experience in equities and banking, Devesh will add significant strength to the equities team. His appointment is a demonstration of RBS’ continued commitment to growing the equities business in the region.
Bhasin said India is a core market for the RBS Group and we see huge growth potential here. Devesh will play a key role in the plan to make RBS a top ten equities house in the market.
