Sanjay Agarwal has been named head of equity capital markets in India for MacQuarie Capital and Daryl Bowden has been made head of sales trading for Europe at Macquarie Securities Group.
Macquarie Capital comprises the corporate advisory, equity underwriting and specialised funds management businesses of Australian financial services firm Macquarie Group, while Macquarie Securities Group is responsible for international cash equities, derivatives trading and securities financing.
Sanjay Agarwal will be based in Mumbai and has more than 11 years of financial services experience. He joins from Edelweiss Capital where he was involved in fund raising exercises and product structuring.
Macquarie’s equity capital markets business in Asia is a major underwriter of share sales, having managed several large IPOs in Hong Kong over the last three years. Its most recent underwriting role was for the initial share sale by Agricultural Bank of China. Macquarie Securities Group claims to research more than 1,200 Asia-listed securities.
Daryl Bowden, who was most recently joint CEO Europe and Asia with ICAP Equities, brings over 20 years' experience in equity sales trading to his new position at Macquarie Securities Group.
His previous roles include six years at Merrill Lynch as head of European sales trading. In 2002, he became a founding partner and head of European equities at Execution, building out the broker's business in the UK, US and Hong Kong including research, sales, trading, corporate access and strategy.
“Daryl joins Macquarie at an important stage in the development of our pan-European cash equities platform,” said Alan Watson, senior managing director, and head of Macquarie's cash equities business in Europe. “Almost three years ago we made a strategic decision to invest in building our European research coverage, and now have 80 European analysts covering approximately 400 stocks, or approximately 80% of the Eurostoxx 600.”