Shri Baldev Prakash assumed charge as Managing Director & Chief Executive Officer of SBICAP Securities Limited (SSL), a full-service brokerage and group company of the State Bank of India (SBI), effective June 29, 2026. He joins SSL on deputation from SBI.
Prakash brings over 35 years of experience in banking and financial services, spanning retail and corporate banking, foreign exchange, digital banking, risk management and financial services, with leadership roles held both in India and overseas, including a treasury and remittance assignment in Muscat, Oman.
Before this appointment, he served as Deputy Managing Director and Group Chief Risk Officer at SBI, overseeing the bank’s enterprise-wide risk management framework and liaising with regulators on governance and compliance matters.
He earlier headed Jammu & Kashmir Bank as Managing Director & CEO from December 2021 to December 2024, a period during which the bank reported improvements in financial performance, governance and operational efficiency. He also chaired JKB Financial Services Limited, the bank’s wholly owned non-banking subsidiary.
Commenting on his appointment, Prakash said he aims to strengthen SSL’s capabilities, enhance customer experience and build a more agile, technology-driven organisation.
Prakash holds a Bachelor’s degree in Economics and a Master’s degree in History from Kurukshetra University. He completed the Executive Leadership Development Programme at Stanford Graduate School of Business and the Advanced Management Programme by the Indian Institute of Banking & Finance with IIM Calcutta, along with diplomas in Treasury, Investment & Risk Management and International Banking & Finance.