JP Morgan strengthens business in India

JP Morgan has appointed Kaku Nakhate as vice chairperson of the bank's Indian operations. Nakhate will be responsible for cash equities, equity derivatives and futures and options, while having a supervisory role for the custody business in India. Mumbai-based Nakhate will report locally into Kalpana Morparia, CEO of JP Morgan India and functionally to Richard Berliand, head of global cash equities and prime services and Laurence Bailey, CEO of JP Morgan worldwide securities services, Asia-Pacific.

Meanwhile, the US bank has also appointed Manish Prasad and Avinash Gupta as co-heads of equities and futures and options. They will both report regionally to Nick Andrews, head of Asia-Pacific and Emerging Markets equities for equities and to Nick Forgan, head of futures and options Asia Pacific, for futures and options and locally to Nakhate. Both are based in Mumbai.

Nakhate was previously head of global markets at DSP Merrill Lynch, while Prasad and Gupta were both co-heads of sales across