SINGAPORE: Nomura Holdings has named Jwalant Nanavati as the new head of its Southeast Asian investment banking business, according to an internal memo seen by Reuters on Tuesday.

Hong Kong-based Nanavati, who joined Nomura nearly four years ago to head its Asia ex-Japan technology, media and telecom (TMT) investment banking team, will take over the new role from July 1 but relocate to Singapore only later this year.

Nanavati, an investment banking veteran of two decades, previously worked at BNP Paribas, Deutsche Bank and Lehman Brothers, according to his LinkedIn profile. He will retain his TMT investment banking role, according to the memo.

A Nomura spokesperson confirmed the contents of the memo.

Nanavati will report to Patrick Kwan, Nomura's head of investment banking for Asia ex-Japan.

He replaces Sarab Bhutani, who is leaving for personal reasons, the memo said. Bhutani joined Nomura two years ago after more than a decade at Standard Chartered. (Reporting by Anshuman Daga; Editing by Bradley Perrett)