Mumbai: SBICAP Securities Limited, one of India’s leading full-service brokerage and investment services firms and a group company of the State Bank of India, has announced the appointment of Mr. Mufaddal Matcheswala as its Chief Business Officer (CBO) – Capital Markets.
In this role, Mufaddal Matcheswala will lead the company’s business strategy, drive growth across its retail and institutional businesses, strengthen customer engagement, expand distribution, and spearhead strategic initiatives to further enhance SBICAP Securities’ market position.
Mufaddal Matcheswala brings over 23 years of experience in the financial services and capital markets industry. Throughout his career, he has successfully led large-scale business transformation initiatives, built high-performing teams, and delivered sustainable growth across multiple market cycles. Prior to joining SBICAP Securities, he spent nearly two decades with HDFC Securities, where he held several leadership positions, most recently serving as Chief Business Officer.
Commenting on the appointment, Mr. Baldev Prakash, Managing Director & CEO, SBICAP Securities Limited, said: “We are pleased to welcome Mufaddal to SBICAP Securities. His strong track record of building scalable businesses, driving customer-led growth, and delivering execution excellence makes him an ideal leader for this role. As we continue to expand our market presence, strengthen our distribution capabilities, and deepen customer engagement, his leadership will play a pivotal role in accelerating our growth agenda and creating greater value for our clients and the business.
Speaking on his appointment, Mr. Mufaddal Matcheswala, Chief Business Officer, SBICAP Securities Limited, said: “SBICAP Securities has built a strong foundation anchored in trust, enduring customer relationships, and the strength of the SBI ecosystem. I look forward to working closely with the leadership team to accelerate growth, deepen customer engagement, strengthen our distribution capabilities, and deliver innovative, customer-centric solutions that create long-term value for our clients and stakeholders.
This appointment reinforces SBICAP Securities’ strategic focus on building a future-ready leadership team that will accelerate business growth, deepen customer relationships, strengthen its competitive position, and create long-term value in India’s rapidly evolving capital markets.
