SBICAP Securities, a full-service brokerage and group company of the State Bank of India, has announced the appointment of Baldev Prakash as its Managing Director and Chief Executive Officer, effective June 29. The appointment was confirmed by the company on Tuesday.
Prakash joins SBICAP Securities on deputation from the State Bank of India, where he most recently served as Deputy Managing Director and Group Chief Risk Officer. With over 35 years of experience in banking and financial services, he has worked across retail and corporate banking, foreign exchange, digital banking, risk management, and broader financial services operations.
Prior to his tenure at SBI, Prakash also served as the Managing Director and Chief Executive Officer of Jammu & Kashmir Bank from December 2021 to December 2024. During his leadership there, he was credited with strengthening financial performance, improving governance standards, and enhancing operational efficiency.
Commenting on his new role, Prakash stated that SBICAP Securities will focus on strengthening capabilities, improving customer experience, and building a more agile, technology-driven organisation. He added that India’s evolving investment landscape presents significant growth opportunities, and the firm aims to deliver innovative solutions and deeper client engagement. The appointment comes at a time when SBICAP Securities is looking to expand its footprint in the rapidly growing retail and digital investment space.
