Mumbai: Motilal Oswal Private Wealth Management (MOPWM), the Private Wealth business of Motilal Oswal Financial Services Limited, has appointed Virendra Somwanshi as Managing Director & CEO. Virendra brings with him 22 years of vast experience across various roles.
Prior to joining MOPWM, he has worked with BOB Capital Market, as Head – Wealth Management & Equities. In a short span of 2.5 years, he has built the industry’s first scaled-up wealth management business segregating Advisory and Distribution in two different legal vehicles. In his earlier stint at Citi, he has worked in multiple businesses across Consumer Banking both Assets & Liabilities, Wealth Management, Securities and Investments Management in India and Singapore. With over 17 years at Citi, he has a long & successful record of scaling up the Retail Banking and Wealth Management franchise in India
The appointment will strengthen the team of MOPWM and provide a strong leadership and renewed vision. Virendra will be responsible for driving MOPWM to the next level, building on the solid foundation and momentum achieved by the MOPWM team under Vijay Goel’s leadership. Vijay Goel will take over as the CEO of Motilal Oswal Home Finance Ltd, the groups’ Home Finance Business
Commenting on the appointment, Mr. Motilal Oswal, Managing Director, Motilal Oswal Financial Servcies said,“We are on a positive growth trajectory and well-positioned to continue building on our momentum. Virendra has demonstrated exemplary leadership in his previous positions. He brings with him great expertise and experience in handling affluent client portfolios. I am sure he will inspire the private wealth team to realise the potential of being leaders and most preferred wealth managers.”
About this new journey in career, Virendra Somwanshi said,“Motilal Oswal is a very strong, respected and powerful brand with a reputation of client centric and strong research based offerings. I am very excited to join the group and lead the next phase of growth. Private wealth management Industry is at the cusp of phenomenal growth in India and we will endeavour to provide cutting edge best in class solutions to our clients and enhanced career opportunities to our employees”
