Fairfax-backed IIFL Securities Ltd has made three management-level appointments, all roped in from Blackstone-backed ASK Private Wealth, to strengthen its wealth management and equities broking businesses.
The company, which is part of diversified financial services conglomerate India Infoline Finance Ltd and has assets under management worth Rs 1.92 lakh crore, has appointed Raghav Gupta and Prakash Bulusu as Joint Chief Executive Officers - wealth and securities, and Amit Srivastava as Senior Managing Partner, Head - Investments.
All three bankers have over 26 years of experience.
Gupta and Bulusu were senior managing partners at ASK Private Wealth, heading North and East India and Singapore, and southern India and the UAE, respectively.
Gupta also had stints in Citi Private Bank, ANZ Grindlays Bank, JM Morgan Stanley and Kotak Wealth Management, while Bulusu previously was with Citi Private Bank, Citi Commercial Bank, Principal PNB Asset Management Company and Zurich Asset Management.
Srivastava was managing partner and head of managed funds at ASK Private Wealth, prior to which he was head of investments at Citi Private Bank.
Fairfax held a 30.86% stake in IIFL Securities as of March 31.
