SBICAP Securities Limited on Tuesday appointed Mufaddal Matcheswala as its Chief Business Officer for Capital Markets, the brokerage firm announced.
Matcheswala will be responsible for leading business strategy, driving growth across retail and institutional segments, expanding distribution, and strengthening customer engagement at the group company.
He brings 23 years of experience in financial services and capital markets. Before joining SBICAP Securities, he spent close to two decades at HDFC Securities, where his most recent role was also that of Chief Business Officer.
Baldev Prakash, Managing Director and CEO of SBICAP Securities, said the appointment was driven by Matcheswala’s record in building scalable businesses and driving customer-led growth, adding that his leadership would be central to expanding the firm’s market presence and distribution capabilities.
Matcheswala said he saw the company’s association with the SBI ecosystem and its existing customer relationships as a strong base to build on, and indicated his focus would be on deepening engagement and delivering customer-centric solutions.
The hire is part of a broader effort by SBICAP Securities to strengthen its senior leadership ahead of what the company described as an expansion phase in India’s capital markets. The firm offers equity trading, derivatives, and mutual fund products, and positions itself as a full-service stockbroker committed to broad financial market access.
The appointment takes effect from September 1, 2026.