Credit Suisse has appointed Rajiv Baruah as managing director and head of Fixed Income for India.
He will report to Mihir Doshi, CEO India of Credit Suisse and Brian Yoon, head of Fixed Income for Asia Pacific.
Baruah will be responsible for all of Credit Suisse’s Fixed Income activities in India including forex, rates, credit as well as the group’s emerging markets financing and trading activities.
Credit Suisse has also hired Gaurav Pradhan as managing director and head of Fixed Income Sales for India, reporting to Rajiv Baruah and Eng Chien, head of Fixed Income Sales for Southeast Asia and India.
He will be in charge of developing and expanding Credit Suisse’s client base for Fixed Income products in India.
Formerly, Baruah, who has 25 years of experience, worked at Macquarie Bank as a managing director for Asian markets in Singapore. He held positions at Royal Bank of Scotland in Hong Kong and Singapore such as head of Sales for Private Wealth Management and Third Party Accounts.
Pradhan joins from Deutsche Bank where he spent 13 years and worked notably as head of Credit Structuring for South and Southeast Asia. He also held roles at Franklin Templeton Investments and Kotak Mahindra Bank in fixed income and treasury teams.
“We have a strong fixed income business in India, spread across several products and asset classes.
“Our ability to capture market opportunities, across FX, rates and lending has enabled us to develop meaningful market share, and the appointment of Rajiv and Gaurav underpins our commitment to providing a broader range of solutions to our domestic and international clients,” Doshi said.
Credit Suisse began domestic fixed income operations in India, when it acquired a non-bank financial company (NBFC) in 2008, which enabled the bank to support key clients with its balance sheet in local currency.
In August 2010, Credit Suisse strengthened the Mumbai bank branch, allowing it to accept deposits and use its balance sheet to provide financing to clients, complementing the NBFC, and permitting it to deal in Indian government securities, other domestic fixed income products and foreign exchange.