MUMBAI: YES Securities (India) Limited, YES BANK’s wholly owned Investment Banking, Merchant Banking, Wealth Management and Broking subsidiary, has announced the appointment of Amar Ambani as President and Head of Research for the broking business.

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"Amar is joined by his team of 15 award-winning analysts credited with putting forth several successful midcap stock ideas to Institutional clients and Ultra HNI investors. In his new role as Head of Research, Amar will work towards strengthening the Institutional Equities business as well as assist in building the Wealth Management, Wealth Broking and Investment Advisory proposition. His team of analysts will cover major sectors such as BFSI, Pharma, Telecom/Media, Metals and Commodities, Currency & Derivatives with a special focus on mid-caps," it said in a statement.

Prior to joining YES Securities, Amar was Partner and Head of Research at IIFL Investment Managers. In his 15-year stint with IIFL, Amar played a pivotal role in driving the broader research strategy, creating disruptive investment plans and products, formulating broking strategies and digital initiatives and, above all, nurturing a vibrant advisory culture. In his role at IIFL, Amar also steered the Investment Committee which guided strategic asset class views and tactical allocations.

An MBA in Finance, Amar is also certified in business process re-engineering.

“We welcome Amar Ambani and team in this journey of YES Securities (India) Limited, who will play an integral role in boosting our market access and acquisition capabilities, thereby positively spearheading the success of the Merchant Banking business as well. A full-scale Research desk will augment the Company’s knowledge-driven approach and also help align its Broking, Advisory, Institutional Sales and Merchant Banking businesses,” said Rana Kapoor, Chairman - YES Securities (India) Limited.

Commenting on the development, Amar Ambani, President & Head of Research -YES Securities (India) Limited said, “I look forward to developing formidable value propositions and product offerings to delight YES BANK clients. For the institutional segment, we will endeavour to offer deep insights and unparalleled corporate access. For wealth and retail segment, we will look at building an investment culture guided by asset allocation, followed by instrument selection and deliver advice on-demand.”

YES BANK has recently capitalized YES Securities (India) Limited by an additional Rs 99 crore taking its provisional net-worth (as on Oct 31, 2018) to Rs 154 crore, affirming its commitment to this business and offering full bouquet to its clients.