Indian financial services firm Wadhawan Global Capital (WGC) has forayed into private wealth management and hired former Julius Baer India head Atul Singh to lead the new venture.
Singh headed Julius Baer’s Indian operations for nearly two years. He previously also held leadership positions in Merrill Lynch’s India and Singapore businesses and Booz Allen Hamilton in New York.
The new venture will reach out to the entire spectrum of HNI and other category of potential audiences, the company said.
Commenting on the move, WGC chairman Kapil Wadhawan said: “Today the Indian economy is on the cusp of a unique growth story and the number of wealthy Indians is on the ascend. Additionally, global players are also looking at investing in the India opportunity. This makes private wealth management business an inevitable opportunity for us to add to our integrated financial services platform.
“I take this opportunity to welcome Atul as head of the wealth management business with nearly two decades of rich experience in working with some of the most respected private banks and wealth managers around the globe, Atul brings deep understanding of building this sophisticated business through quality research, trusted advice and transparent relationships.”
Singh said: “I’m delighted to be joining WGC Group that has been part of India’s valuable financial services journey for the past three decades. We look forward to creating a unique yet dominant market leadership position in wealth management business for the discerning India that today has few of the best wealth creators both new and across generations.
“Moreover, with structural shift towards Financial Savings for Indian households, this presents a multi-decade opportunity, and with WGC group’s wide ranging capabilities and footprint, we would be well placed to capture it.”
WGC manages $20bn of assets. It is the parent company to brands such as DHFL, Aadhar Housing Finance, Avanse Financial Services, DHFL Pramerica Life Insurance, DHFL Pramerica Asset Managers and DHFL General Insurance.