IDBI Capital Market Services, an investment banking and financial services provider in India, has appointed Nagendra Bhatnagar as the new managing director and CEO of the company.

Bhatnagar has replaced Sushil Muhnot who returns to IDBI Bank to head its personal banking division.

Prior to taking up this assignment, Bhatnagar worked with State Bank of India. He has handled key assignments in areas cutting across investment banking & traditional banking with positions in SBI Capital Markets, head of London Main Branch of the State Bank of India.

Prior to joining his current position, Bhatnagar was posted in the Ahmedabad head office of State Bank of India as general manager.
Bhatnagar said he is delighted to join a company with such a strong heritage as a part of the IDBI Group.

"I hope to leverage my past experience in different set-ups to establish and grow IDBI Capital’s businesses," Bhatnagar said.