Ratnesh Kumar joins Anand Rathi Fin Services

Chennai, February 07, 2008: AnandRathi Financial Services (AFS), one of the leading full service investment bank in India, today announced the appointment of Mr. Ratnesh Kumar as the CEO - Institutional Equities. Prior to this Mr. Ratnesh Kumar was associated with Citigroup, where he was the Managing Director and Head of Research.

Speaking on this top-level appointment, Mr. Amit Rathi said, "Ratnesh brings with him rich and extensive experience in the Institutional Equities business. Ratnesh's addition to the senior management team at Anand Rathi will significantly propel the firm's positioning in the growing institutional equities business and also aid the overall growth momentum of the Group. We are glad to have him on board with Anand Rathi and together wish to take the Institutional equity business to greater heights in times to come."

Ratnesh Kumar (40 years) comes with over 15 years of experience in Indian institutional equities business and has been instrumental in setting up and spearheading the Citi's India research team for nearly 8 years. He has also been Citi's India equity strategist throughout this period.

Under his leadership, Citi India research team won many awards and accolades; one being #1 ranking in Institutional Investor polls, 2006 and 2007. Prior to Citigroup, Ratnesh was associated with CLSA India for over 4 years, where he left as Head of India Research and India strategist.

Ratnesh started his career in equities with SSKI in 1993. Ratnesh holds an M.B.A. degree from FMS, Delhi and M.Sc. and BE degree from BITS, Pilani.

About Anand Rathi Financial Services

Anand Rathi (AR) is a leading full service investment bank providing a wide range of financial services to institutions, corporations, wealthy families and individuals. Founded in 1994 by Mr. Anand Rathi and Mr. Pradeep Gupta, the group employs over 4,500 professionals across India and its international offices. 20% of the group's equity is currently held by Citigroup Venture Capital.