LGT Group’s private wealth management company LGT Wealth India has onboarded three senior financial services executives to its top management team.
Nimish Shah has joined the wealth manager in the capacity of managing director for family office and portfolio analysis; Nikhil Advani as managing director of international business and Gautam Sewani as the managing director for the private clients vertical.
According to a company statement, the appointments will cater to meeting the growing demand in wealth management for family offices, high networth individuals (HNIs) and global investments in the Indian wealth planning industry.
To be sure, the firm had forayed into Indian wealth management in September last year.
LGT Wealth India, Securities and Exchanges Board of India (Sebi)-registered portfolio manager, is owned LGT, which in turn belongs to Liechtenstein’s princely family. LGT entered the Indian wealth management space in August 2022 by acquiring Mumbai-based Validus Wealth. The company operates under a portfolio management services (PMS) licence and also has a distribution business.
While LGT Wealth India has Rs 11,000 crore ($13.5 billion) worth assets under management (AUM), its promoter LGT has an AUM of $297.4 billion as of June 2022. LGT globally employs over 4,500 people who work out of more than 20 locations in Europe, Asia, the Americas, Australia and West Asia.
Shah brings with him over two decades of experience in capital markets, cross-asset classes, investment products and platforms. His strengths include providing wealth solutions for high networth clients through strategic and tactical asset allocation. He joined LGT Wealth India from Waterfield Advisors, where he served as the chief investment officer. His primary responsibility at LGT Wealth India will be driving the Indian family offices and portfolio analytics segments.
Meanwhile, Advani will work towards strengthening and leading the global investing platform along with the international business segments of the organization. Previously, he was a consultant at the Bank of Singapore where he spent more than a decade. He has also worked with multinational companies (MNCs) such as Citibank Singapore and Merril Lynch in his 25-year experience across the global financial services industry.
Sewani brings with him over 21 years of experience, wherein, he has worked with Kotak Wealth Management, driving the distribution and advisory business for the North and East zones. He has also managed large branches of Citibank and HSBC across Delhi and Mumbai for nearly a decade.
“We have also onboarded senior relationship managers in Delhi, Gurugram, Ahmedabad, Hyderabad, Bengaluru and also in some tier II and tier III cities like Kochi, Salem and Dehradun to help expand our network coverage,” said Atul Singh, managing director and chief executive officer of LGT Wealth India.