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Exclusive: Multi-Act hires former Orbis Financial CEO to head advisory business

10 November, 2016

Mumbai-based Multi-Act Equity Consultancy Pvt. Ltd, an investment advisory firm that caters to the super-rich individuals, has hired former Orbis Financial Corporation Ltd chief executive Jayakumar S Babu as its president and CEO.

Babu confirmed the development. Multi-Act chairman Prashant Trivedi did not respond to an email seeking comment.

Multi-Act was founded in 1997 by two Wharton graduates, including Trivedi, to develop an equity research capability for their own investments. It employs 50 people in Mumbai and Pune, and services wealthy families, owners of family businesses, investors and capital intermediaries.

Multi-Act has two businesses—Multi-Act Equity Consultancy and Multi-Act Equity Research Services Pvt. Ltd. The consultancy services business offers investment advisory activities for domestic ultra-high net worth individuals. It also provides advisory and portfolio management services to foreign financial institutions, single-family and multi-family offices and university endowments. Its equity research business provides research services to investors, wealth managers, brokers and dealers.

Orbis is a custodial services provider to banks and custodian bank aspirant. Babu joined Orbis as chief operating officer when it was launched and worked there for about a decade. During his tenure, Orbis grew its assets under management from Rs 400 crore to about Rs 5,000 crore as of August 2016. 

Before Orbis, he worked at Syntel Global and Viteos Capital Market Services for about a year each. The chemistry graduate from the University of Madras started his career with Indian Overseas Bank in 1988 and worked there for about two years. He also worked for about 17 years at United India Insurance Company Ltd, handling equity and debt market operations. 

Orbis recently hired Rajesh M Sharma, a former executive director at Standard Chartered, as its CEO. The Gurgaon-based company also appointed Manoj Agrawal as its chief operating officer. Founder Atul Gupta has taken over the role of executive chairman. It had recently inducted former Religare Enterprises CEO Shachindra Nath as an independent director. 

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Exclusive: Multi-Act hires former Orbis Financial CEO to head advisory business

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