Japanese global investment bank Nomura has appointed Indraneil Borkakoty as head of equity capital markets for India. The appointment is part of an ongoing expansion drive by Nomura, which recently hired a new head of international trading in the Americas to assist its planned expansion there. The move also follows the launch of Nomura's NX dark pool in Hong Kong in May 2010.
Borkakoty, who has worked in equity capital markets (ECM) for 15 years, joins Nomura from Kotak Mahindra Capital, where he headed ECM. He has also worked for ICICI Securities, KPMG and Lazard. In his new role, Borkakoty reports to Nipun Goel, Nomura's head of investment banking for India, and Mark Williams, head of ECM for Asia ex-Japan.
“Indraneil brings invaluable experience and expertise. This will further strengthen Nomura's presence and continued build-out in India as a leading Asia-based global investment bank,” commented Goel.
Nomura opened its primary dealership operation in India in September 2009, allowing it to access and trade India interest rate risk via underwriting and distributing government bonds as well as trading in local currency interest rate swaps.
“This appointment is crucial to our strategy of building the leading ECM franchise in Asia,” said Williams. “India accounted for 16% of the total ECM volume in Asia ex-Japan in the first half of this year and is an important market for our ECM business.”