MO Alts, the private equity arm of diversified financial services group Motilal Oswal Financial Services, has appointed former National Investment and Infrastructure Fund (NIIF) executive Padmanabh Sinha as its managing director and chief executive officer.
Sinha brings nearly 30 years of investing and leadership experience across India and global markets, spanning global sovereign funds, Indian corporations and institutions. He previously served as executive director and chief investment officer at NIIF.
Sinha succeeds MO Alts’ founder Vishal Tulsyan, who will take over as executive chairman of the company. Tulsyan will also play a key role in shaping the strategy of Motilal Oswal Financial Services, according to a press note.
Separately, Motilal Oswal said Ajay Menon, managing director of its wealth management (retail broking) business, and Ashish Shankar, head of its private wealth business, will step down from their respective roles to jointly pursue a startup venture outside the group.
The company has promoted Suresh Shukla, executive director at Motilal Oswal Wealth Management, as the managing director and chief executive officer of its wealth management business. Shukla previously spent 25 years at Kotak Securities and three years at SBI Securities.
Motilal Oswal has also appointed Akash Hariani as managing director and chief executive officer of its private wealth management business. Hariani will co-lead the business with its current MD and CEO, Anupam Guha. Hariani previously served as joint managing director at Motilal Oswal Wealth.
“As we transition in this journey, we remain focussed on strengthening our leadership depth, building institutional capabilities and creating sustainable long-term value for all our stakeholders. Our belief in nurturing talent, empowering leaders and building an enduring institution continues to guide us," Motilal Oswal, co-founder, Motilal Oswal Financial Services, said in the note.