Avendus Capital Pvt Ltd, a leading financial services firm serving institutional clients, has strengthened its wealth management business with two fresh hirings. It has appointed Munish Randev as executive director and head of product and advisory services in the firm.
Randev will lead the firm’s wealth management product function with special focus on fixed income and structured solutions, said a company statement. He will be based out of Mumbai, and will report to Nikhil Kapadia, CEO, Avendus Wealth Management.
Randev was very recently with the US asset manager Fidelity as head of product and proposition in India. Prior to that, he was product head of investment services at ABN AMRO Bank.
Besides Randev, the company has also appointed Deepak Yachamaneni to look after the real estate needs of its clients. Yachamaneni was with Workspace India and was in charge of the real estate investments for a leading NRI family, the statement added. He was previously part of the wealth management divisions at Barclays and Kotak Mahindra Bank.
“Real estate and fixed income structures are very important asset classes for our clients. With a strong team in place, we hope to create a very high quality and effective product delivery platform and build on strong synergies with our existing investment banking, institutional broking and alternate asset management businesses,” Kapadia said in the statement.
Kapadia joined the firm in January 2010 that followed two more executive level hires in February in the form of Ritu Jain and Kartik Kini. Jain joined Avendus as executive director, while Kini as chief administrative officer.
Avendus offers services such as M&A advisory, private placements, structured finance advisory, equity capital markets, institutional broking, asset management and private wealth management. It has offices in Mumbai, New Delhi, Bangalore, New York and London.