Avendus Wealth Management, a subsidiary of investment banking firm Avendus Capital, has appointed Sudeepto Deb as executive director and head of equities.
He will report to George Mitra, chief executive at Avendus Wealth Management. Deb will be based out of Mumbai. His key responsibility would be to expand the range of solutions currently offered by the wealth management team for its clients, the company said in a press release.
Deb’s appointment comes after Aniruddha Naha resigned as director of equities at Avendus Wealth earlier this month.
Mitra said Deb’s diverse expertise will be a valuable addition to the leadership team in delivering investment solutions to the clients.
Deb has been an equity market professional since 1993. He holds a bachelor’s degree in mechanical engineering. In his previous role, Deb was managing partner at investment banking firm Lastaki Advisors. He also had stints with Deutsche Bank, Kotak Securities, Credit Suisse First Boston and Indsec Securities and Finance, according to his LinkedIn profile.
Deb is likely to spearhead the fundraising efforts of Avendus Wealth. In September 2017, Avendus Wealth had launched its maiden public markets fund to invest in listed companies. The fund is raising Rs 250 crore, with an option to raise an additional Rs 100 crore. The fund has not yet closed.