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Multi-family office Waterfield hires Citi banker as managing director
Ruchi Sankhe

Multi-family office and boutique advisory firm Waterfield Advisors has appointed former Citibank banker Ruchi Sankhe as its managing director for origination and client coverage, it said in a statement on Tuesday.

“Her experience will add tremendous value to the firm at a time when we are significantly enhancing our client base,” Waterfield managing director and chief executive officer Soumya Rajan said of Sankhe’s appointment.

A graduate of Temple University in Philadelphia, Sankhe worked at Citibank for more than two decades. In her most recent role, she was responsible for managing key ultra-high-net-worth relationships for Citi Private Bank.

Prior to that, she was in charge of developing business for the bank’s Corporate Banking Group as well as heading insurance and broking at its Financial Institutions Group. Prior to Citibank, she worked at American insurance and health services provider Cigna.

Waterfield

Founded in 2011, Waterfield works with family-owned businesses, trusts and endowments and single-family offices in several investment and non-investment-related areas. The firm says it helps its clients plan, structure and manage family wealth, working as their family office. 

On the investment side of its advisory business, it works with asset management companies, portfolio management services and alternative investment fund providers. The firm claims it manages financial assets worth over $2.2 billion (Rs 15,183 crore at current exchange rates).

In May, VCCircle reported that the firm was in talks to raise funds for growing its operations and providing an exit opportunity to Amit and Arihant Patni, who had invested five years ago. According to two people aware of the development, the firm was aiming to raise primary capital of about $5 million (around Rs 35 crore). 

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