SBICAP Securities appoints Ayaskant Mohapatra as chief technology officer

MUMBAI: SBICAP Securities has found its new tech chief. The brokerage has appointed Ayaskant Mohapatra as chief technology officer (CTO), announced on 22 October 2026, strengthening its leadership team as it advances its technology capabilities and digital transformation agenda.

SBICAP Securities Limited describes itself as one of India’s leading full-service brokerage and investment services firms, and is a group company of State Bank of India.

Mohapatra is a results-driven IT professional with 25 years of experience leading enterprise-scale technology functions. He brings expertise in using technology to accelerate business growth, enhance operational efficiency, strengthen security and build scalable technology ecosystems aligned with evolving business needs.

He has plenty of financial services experience. Before joining SBICAP Securities, he held key roles at BOBCARD, YES Securities, Axis Securities and HSBC InvestDirect. The company expects this experience across the sector to strengthen its technology strategy and digital capabilities, and to support its focus on delivering seamless, secure and customer-centric solutions.

“I am delighted to join SBICAP Securities at an exciting time in its growth journey,” said Mohapatra. “Technology will be a key enabler in taking the organisation to the next level by driving innovation, accelerating digital transformation, enhancing operational efficiency, and strengthening security. I look forward to working closely with the leadership team to build a scalable, agile, and future-ready technology ecosystem that delivers seamless customer experiences and creates sustainable business value. Together, we aim to harness emerging technologies to unlock new opportunities and further strengthen SBICAP Securities’ position in the evolving financial services landscape.”

Baldev Prakash, managing director and chief executive officer of SBICAP Securities Limited, said: “We are delighted to welcome Ayaskant to SBICAP Securities. His extensive experience leading enterprise technology functions and his deep understanding of the financial services ecosystem will be valuable as we continue to strengthen our technology infrastructure and digital capabilities. We remain focused on leveraging technology to enhance the customer experience, drive operational excellence, and support the company’s next phase of growth.”

With the appointment, SBICAP Securities Limited says it is reinforcing its commitment to building a robust, agile and future-ready technology ecosystem that supports its strategic priorities, enhances customer experience and responds to the evolving needs of the financial services industry.

Three things stand out. First, the timing. Brokerages now compete on app speed, platform security and the ease of placing a trade, and a technology chief sits at the centre of all three. Both Mohapatra and Prakash talk about digital transformation, operational efficiency and customer experience, which suggests technology is being treated as core to the business, not as a back-office function.

Second, the track record. Mohapatra’s career has taken in a bank-backed card business, BOBCARD, and several broking firms, including YES Securities, Axis Securities and HSBC InvestDirect. That mix of lending-linked and broking technology is useful at a full-service brokerage.

Third, the backing. SBICAP Securities is a group company of State Bank of India, which gives it scale and brand strength. A technology chief who can build a “scalable, agile, and future-ready” ecosystem, in his own words, will be judged on how well that scale translates into a smoother experience for customers.