Equirus Securities, the research and institutional equities division of investment bank Equirus Capital Pvt. Ltd, has roped in Malaysian firm CIMB’s Satish Kumar as head of its equities division.
Equirus Capital managing director Ajay Garg said Kumar’s appointment would help the group strengthen its research coverage and increase its securities business.
Kumar has over 16 years of experience in the equity research field, covering sectors such as metal and mining, chemicals, utilities, cement and capital goods.
In his previous job, he worked at Malaysian lender CIMB Group Holdings Bhd as the head of its India research division. He has also worked as a director for research at Bank of America Merrill Lynch. Other institutions Kumar has worked for include Standard Chartered Bank and Vedanta Resources Plc.
Founded in 2010, Equirus Securities is a brokerage focusing on the mid-cap space and has domain experts in verticals such as industrials, pharmaceuticals, metals and mining, power, infrastructure and real estate.
The appointment of Kumar comes over a year after Equirus Capital appointed Citibank's Ankur Maheshwari as the chief executive officer of its wealth management business. At Citibank, Maheshwari was national head of investment sales for the global consumer banking segment.
In February 2018, VCCircle reported that private-sector lender Federal Bank had agreed to acquire a 26% stake in Equirus Capital for an undisclosed amount. The deal was aimed at helping the Kochi-based bank offer wealth management services to its high net-worth and non-resident Indian clients.
Founded in 2007, Equirus Capital has handled transactions across mergers and acquisitions, private equity, initial public offerings, institutional placements, and structured financing. It also offers depository services, portfolio management and research, apart from equity broking.