ICICI Investment Banking Head Saraf to Move to Retail Broking

(Bloomberg) – According to people who are familiar with the issue, Ajay Saraf, who has managed the investment banking department of Icıcı Securities Ltd. for nearly 15 years, will begin to become the president of India’s Retail Brokeing and Reserve business.

He said that he was Prasanna Balacander, who had previously stepped into this role, Prasanna Balacander, who had previously controlled global markets and registered trade in ICICI BANK LTD.

The change of leadership comes after Icıcı Securities deleted India’s second largest private loan after being a fully subsidiary of the local exchanges in March.

Although the company has not yet officially announced the changes, Prasanna has updated the LinkedIn profile to reflect its new role. However, Saraf did not update any update on the public profile.

Icıcı Securities and Icici Bank Spokesman did not respond immediately to the e -mail seeking comments. He did not respond to an e -mail or text message.

Icici Securities and Kotak Mahindra Capital Co. have long competed for dominance in India’s investment banking view. However, their reserves have left in recent years. Icici Securities, in 2021, while the country’s self -proposals filled the league table, Kotak Mahindra, which has been the top since 2022 since then, has prepared the ground for.

According to Bloomberg data, the decline continued until 2025 and last year’s sixth place, Icıcı Securities fell seventh.

Nevertheless, ICICI SECURITIES Currently Tata Capital Ltd.’s $ 2 billion list and Icıcı Prudential Asset Management Co., Hero Fincorp Ltd. and Workwork India Management Ltd.

There are more stories like this Bloomberg.com