SBICAP Securities appoints SBI executive Baldev Prakash as MD & CEO

Former Jammu & Kashmir Bank chief joins the SBI Group brokerage on deputation and will focus on technology, customer experience and long-term growth

SBICAP Securities, a full-service brokerage and a group company of the State Bank of India (SBI), has appointed Baldev Prakash as its Managing Director and Chief Executive Officer with effect from June 29, the company said on Tuesday.

 

Prakash has joined the company on deputation from SBI, where he most recently served as Deputy Managing Director and Group Chief Risk Officer.

 

Prakash brings more than 35 years of experience in banking and financial services, spanning retail and corporate banking, foreign exchange, digital banking, risk management and financial services.

 

Before his role at SBI, he served as Managing Director and Chief Executive Officer of Jammu & Kashmir Bank from December 2021 to December 2024, overseeing improvements in the bank's financial performance, governance standards and operational efficiency.

 

Commenting on his appointment, Prakash said the company would focus on strengthening its capabilities, enhancing customer experience and building a more agile, technology-driven organisation to capitalise on opportunities emerging in India's evolving investment ecosystem.

 

“I am honoured to take charge of SBICAP Securities at an important stage in its growth journey. Backed by the trust and legacy of the SBI Group, we will focus on strengthening our capabilities, enhancing customer experience, and creating long-term value for all stakeholders. India's investment ecosystem is evolving rapidly, presenting significant opportunities for investors and financial institutions alike. Our priority will be to build a more agile and technology-driven organisation that delivers innovative solutions, seamless service, and deeper engagement with clients. I look forward to working closely with our teams to accelerate growth and further strengthen SBICAP Securities' position in the market.”

 

Prakash previously served as Managing Director and Chief Executive Officer of Jammu & Kashmir Bank, where he oversaw improvements in the lender's financial performance, governance standards and operational efficiency.