OREANDA-NEWS. September 28, 2011. HDFC Bank, the second largest private sector bank in the country, has appointed Mr. Ajay Marwaha EVP and Head, Trading, in the Treasury Department. Mr. Marwaha will be in charge of interbank foreign exchange and bullion desk, interest rate trading, inter-bank derivatives, institutional sales and overseas business (Treasury). He will report to Mr. Ashish Parthasarthy, Treasurer, HDFC Bank.

Mr. Marwaha is an MBA from Jamnalal Bajaj Institute of Management Studies and holds a Bachelor of Engineering degree from Mumbai University. He brings to the table a rich 17-year experience of big-ticket treasury trading.

He joins HDFC Bank from Daiwa, India, where he was Managing Director and Head - Fixed Income Currencies & Commodities (FICC). At Daiwa, Mr. Marwaha was mandated to set up and manage the FICC platform in India and INR-linked FICC activities out of Singapore. Mr. Marwaha has also worked with global organizations like Standard Chartered Bank, JP Morgan Chase, Citigroup, Lehman Brothers and Nomura Securities.

Welcoming Mr. Marwaha, Mr. Parthasarthy said, "We are delighted to have Ajay at the helm of Trading in the Treasury department. It is an extremely important business for us, and will only grow in importance as we go along. With his insight of currency markets, Ajay possesses what to me is a rare blend of experience, knowledge, and expertise, and, also enjoys the respect of his colleagues and peers. We are confident that he will guide our Treasury Trading venture to scale newer heights. We wish him good luck."

Commenting on his appointment, Mr. Marwaha said, "We shall strive to complement the vast client base of HDFC Bank by offering simple risk ideas like hedging, balance sheet management, etc, which originate from the Trading desk in the Treasury side. Our endeavour will be to offer top-draw advisory and thereby enhance the client base and goodwill the Bank enjoys. We are committed to provide optimal long-term solutions to clients and build relationships on trust and commitment."