RBS appoints Devesh Kumar as Head of Equities, India

The Royal Bank of Scotland Group (RBS) on Tuesday announced the appointment of Devesh Kumar as Head of Equities, India, in a further move to grow the equities business in the country and the region.

Kumar is responsible for all of RBS's cash equity (research and sales), equity derivative and equity financing businesses in India.

He is based in Mumbai, reporting jointly to Peter Irvine, Head of Asia-Pacific (APAC) Equities and Ramit Bhasin, Head of Markets, India, a press release stated.

"With more than twenty years experience in equities and banking, Devesh will add significant strength to our equities team. His appointment is a demonstration of our continued commitment to growing the equities business in the region," Irvine said.

"India is a core market for the RBS Group and we see huge growth potential here. Devesh will play a key role in our plan to make RBS a top ten equities house in the market," said Bhasin.

Kumar joins 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.