Avendus Capital has hired former Kotak Mahindra Bank executive Akash Hariani as an executive director of subsidiary Avendus Wealth Management to lead the expansion of services to multi-family offices.
Mumbai-based Hariani will be part of the core growth strategy team and will report to Avendus Wealth CEO George Mitra, the company said in a statement.
“His (Hariani’s) in-depth knowledge and varied experience in the wealth management and family office space will contribute to the company’s plans on expanding the business and taking it to the next level of growth,” Mitra said.
At Kotak Mahindra Bank, Hariani had a 12-year stint and was last associated as the executive director where he was mainly responsible for the bank’s client relations for its wealth management vertical.
Prior to this, he was associated with Kotak Mahindra Asset Management heading the bank channel sales. He previously worked with firms such as TCFC Securities Pvt. Ltd. during a 23-year career.
Avendus Wealth provides customers customized investment solutions in equity, fixed income, real estate and alternative investment classes. It caters to more than 200 high net-worth families in India and the US and has assets under management of close to $1.7 billion.
Avendus Capital provides financial services including advisory, wealth management, structured credit solutions and alternative assets management. It has been making several senior hires for existing business as well as new business it planned to enter.
Six months ago, it recruited the entire top management of Ambit Investment Advisory that included its CEO Andrew Holland and a team of 11 members to start hedge fund business.
It also hired Dhiren Mehta from its parent private equity firm KKR to head its credit business. Mehta joined as managing director for capital strategies business.
The firm appointed former RBL Bank executive Sandeep Thapliyal as managing director and CEO of Avendus Finance, which provides customised financing solutions to companies through structured debt, mezzanine, high-yield products, and capital structuring.
Two weeks ago, it hired the legal head of the Indian subsidiary of a Swiss banking conglomerate to strengthen its legal capabilities.
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