Mumbai: Equirus Group, a full-service financial services firm, today announced the appointment of Manishkumar Jain as Chief Executive Officer of Equirus Finance, the Group’s newly launched non-deposit-taking Non-Banking Financial Company (NBFC). This strategic leadership move comes shortly after the Group received Reserve Bank of India (RBI) approval to establish the NBFC, marking a key milestone in its expansion journey.
Jain will spearhead Equirus Finance, building a diversified lending franchise and establishing the NBFC as a relationship-driven platform offering bespoke funding solutions to High-Net-Worth Individuals (HNIs), family offices, and promoters. With Equirus Wealth now managing over USD 2.2 billion in assets under management (AUM), the NBFC strengthens the Group’s ability to provide an integrated advisory-and-lending experience.
Jain brings over 20 years of experience across ASK Group, Nuvama (now a PAG Group entity), Anand Rathi Global Finance, and Deloitte. He has extensive expertise in capital market lending, treasury management, structured credit, and NBFC leadership. He has scaled Loan Against Securities (LAS) businesses, launched India’s first digital LAS platform, managed ₹2,500+ crore treasury books, and led structured credit and MLD initiatives. As a qualified Chartered Accountant from ICAI, he adds technical depth to the role.
Commenting on the appointment, Ajit Deshmukh, Managing Director, Equirus, said, “We are delighted to welcome Manishkumar Jain to the Equirus family as CEO of Equirus Finance. His proven leadership capabilities and deep domain expertise make him the ideal leader to build and scale our NBFC business. This appointment is a crucial step in Equirus strategy of becoming India’s most trusted financial partner for entrepreneurs, corporates, and HNI families in India.”
Manishkumar Jain, CEO, Equirus Finance, added, “I am honored to join Equirus Group at this transformative juncture. The opportunity to build a wealth-focused NBFC that seamlessly integrates with Equirus’s established platforms is truly exciting. I look forward to creating a client-centric ecosystem that delivers bespoke funding solutions while maintaining the highest standards of risk management and regulatory compliance.”
Equirus Finance will offer tailored lending products, including Loan Against Securities (LAS), ESOP financing, Market-Linked Debentures (MLDs), structured finance, and other secured lending solutions for HNIs, family offices, and promoters. The NBFC is targeting a ₹3,000 crore high-quality loan book over the next few years, supported by a robust compliance and risk framework, and aims to unlock synergies with Equirus Wealth to create a unified “One Equirus” experience.
