Avendus Capital’s wealth management arm Avendus Wealth has onboarded a former Axis Bank executive at its helm as managing director and chief executive officer.
The firm, which has recently advised companies like Nephroplus, Veritas Finance, Maiva Pharma, NSEIT, Ibus, Karnataka Bank and ITC Infotech among others over M&A or fundraising developments, has appointed Apurva Sahijwani to head the wealth management business.
Sahijwani brings with him over 25 years of experience in private banking and wealth management. In his most recent role at Axis Bank, he was at the helm of ‘Burgundy Private’, the bank's private banking arm. Besides, he has also held several key management positions at Kotak Wealth, ICICI Bank, HSBC and Citibank.
On his appointment, Apurva said, “I’m confident that cross-leveraging Avendus’ investment banking, institutional equities, and asset management propositions will help address the requirements of India’s UHNIs and family offices.”
Avendus Wealth Management has assets under management (AUM) of $6 billion (Rs 50,092 crore). The wealth management arm was started in 2010 and caters to a wide range of clients that include family offices, UHNIs, and corporates.
Gaurav Deepak, co-founder & CEO of Avendus, said, “Apurva combines people leadership with client centricity, in a manner that is intrinsically Avendus. With him at the helm we will realise our ambition of becoming a market leader.”
Avendus Group has a presence across the areas of investment banking, institutional equities, wealth management, credit solutions, and asset management. Established in 1999 in Mumbai, the financial services firm has a presence in 10 cities across India, as well as the US and Singapore.