Mumbai, Jan. 14 -- Emirates NBD Capital India Pvt. Ltd, the newly set-up investment banking arm of the Dubai-based financial services major in India, is likely to appoint DAM Capital Advisors Ltd's managing director Alok Malpani as its first India CEO, said two people in the know.

A formal announcement could be made as early as this week, the people said, requesting not to be named as they are not authorized to speak to the media.

Emirates NBD and Malpani did not immediately offer a comment.

The development comes as the Dubai-based bank continues to make inroads into India, including with a $3 billion investment to acquire a majority stake in RBL Bank.

Emirates NBD Bank set up operations in India in 2017. It applied for an investment ...