Mumbai: Merrill Lynch & Co Inc, has appointed Kevan Watts as president of its Indian unit, DSP Merrill Lynch, to strengthen the management team, the company said on Tuesday.
In his 27 years with the US investment bank, Watts has held several top positions, including head of European investment banking, co-head of global investment banking, chairman of Asia Pacific and chairman of Merrill Lynch International.
The company holds a 90% stake in DSP Merrill Lynch. Watts has been on the board of the Indian unit since 1997.
“India is a critical growth market for us and appointing Kevan as president of DSP Merrill Lynch confirms its importance,” said Greg Fleming, president, Merrill Lynch.
India’s financial sector has attracted top global banks as wealthy individuals seek wealth management and private banking services. At the same time, Indian firms looking to expand overseas have tapped top investment bankers.