Mumbai-based Avendus Wealth Management Private Limited announced on Tuesday that the advisory firm has appointed Umang Papneja as the Executive Vice Chairman and the CEO, responsible for leading the wealth business.
Papneja, who will work on deepening the company’s proposition for founders, corporate and family offices has over two decades of experience across private banking ad wealth management. Prior to joining Avendus, he was associated with Julius Baer India, acting as the Chief Executive Officer of the company. He was responsible for expanding the onshore franchise. Papneja has spent over a decade as Chief Investment Officer at IIFL Wealth (now 360 ONE), navigating investment strategy across asset classes.
Umang Papneja will succeed Apurva Sahijwani , who currently leads Avendus Wealth Management as the MD & CEO, following his appointment in May 2024.
Commenting on the appointment, Gaurav Deepak, Co-founder & CEO, Avendus Group said, “. Building a distinctive wealth platform around these relationships is an important priority for us. Umang shares our vision and values, and brings a rare combination of investment expertise, experience building businesses at scale, and the trust of India’s leading families. I am delighted to welcome him to Avendus as we build the next phase of our wealth business.”
