SBICAP Securities name Deepak Kumar Lalla as its CEO, replaces Yadav

SBICAP Securities named Deepak Kumar Lalla as its managing director and chief executive, replacing Naresh Yadav

Indian financial services firm SBICAP Securities, a unit of SBI Capital Markets and part of the government-owned State Bank Group, on Wednesday named Deepak Kumar Lalla as its managing director and chief executive, replacing Naresh Yadav.

Lalla, who has worked at the country's top lender State Bank of India for over 37 years, was previously heading the bank's wealth management business, SBICAP said in a statement.

It was not immediately clear what Yadav's next role would be.

SBICAP Securities offers financial and advisory services to investors.

 

(Reporting by Nishit Navin in Bengaluru; Editing by Dhanya Ann Thoppil)