India’s second largest private lender HDFC Bank has appointed Ajay Marwaha as an executive vice-president (EVP) and head of trading in treasury department.

In his new role, Marwaha will handle interbank foreign exchange and bullion desk, interest rate trading, inter-bank derivatives and institutional sales and overseas business (treasury). He has 17 years of experience in treasury trading and will report to Ashish Parthasarthy, a treasurer with HDFC Bank.

“With his insight of currency markets, Marwaha possesses what to me is a rare blend of experience, knowledge and expertise. We are confident that he will guide our treasury trading venture to scale newer heights,” Parthasarthy commented on the appointment.

Marwaha has done his BE from Mumbai University and holds an MBA degree from Jamnalal Bajaj Institute of Management Studies.

Before moving to HDFC Bank, Marwaha was managing director and head of fixed income currencies and commodities (FICC) at Daiwa, India, where he was responsible for managing the FICC platform in India and INR-linked FICC activities out of Singapore. Earlier, he had worked with Standard Chartered Bank, JP Morgan Chase, Citigroup, Lehman Brothers and Nomura Securities.

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