8th April 2020 | Mumbai | Wealth Management
Avendus Wealth Management, an Avendus Group company, is pleased to announce the appointment of Akshaya Bhargava on the Board of Avendus Wealth Management Private Limited as an Additional (Non-executive) Director with effect from March 26, 2020. Based in London, Akshaya is the founder of Bridgeweave, a B2B fintech firm that creates Artificial Intelligence (AI)-powered next-generation products for Wealth and Asset Management industries.
With a career spanning over 40 years, Akshaya has been at the helm of various successful wealth and investment management companies. From 2014-2017, he was the global CEO of Wealth and Investment Management of Barclays Plc, overseeing £200 billion of client assets. Before that, he founded InfraHedge, a hedge fund managed account platform, which was acquired by State Street Corporation in 2013. He has also served as CEO of Butterfield Fulcrum Group (acquired by MUFJ Group) and the founding CEO of Progeon (acquired by Infosys and later renamed to Infosys BPO in 2006).
Akshaya started his career at Citibank where he spent 22 years in varied senior roles including Country Manager with Citibank Czech Republic, Global Product Head for Citi's ELC business, Regional GTS Head for CEEMEA region and other senior roles in product management and corporate banking.
Akshaya’s global experience in the Wealth and Asset Management industry will be valuable for Avendus Wealth to adopt global best practices and enable technology transformation and offshore platform creation.
On joining Avendus Wealth, Akshaya Bhargava said, “I am excited to be a part of the Avendus Wealth Board and work with the vibrant leadership team. Avendus Wealth is an exceptional and integrated ecosystem which embodies professional excellence and has won the clients’ trust. I look forward to contributing towards its journey to become a world-class business.”
On the appointment, Nitin Singh, CEO of Avendus Wealth Management said, “I am extremely happy to have Akshaya on our Board and the timing of this appointment could not have been better. One of my key aspirations for this business is for it to deliver best-in-class, digitally-powered customer journeys to all our clients and I feel happy knowing that Akshaya’s guidance will hugely help us in this endeavour. His knowledge and wisdom will also help us redefine our overall strategic objectives as well as fast track our achievement of these objectives. With his deep understanding of the industry and of using technology as an enabler, he is very well placed to guide Avendus Wealth as it charts out its next set of growth milestones.”
Avendus Wealth Management (AWM), the wealth business of Avendus Group, manages an AUM of USD 4 billion. Started in 2010, it caters to a wide range of clients including leading family offices, UHNIs and corporates. The diverse profile of its clients is a testimony to its ability to serve them throughout their life cycle, by crafting bespoke and differentiated solutions to grow and protect wealth. Avendus Wealth has recently been ranked among the top 5 private banks in the country by Euromoney.
Avendus Group is a leading provider of financial services with an emphasis on partnering with the Indian entrepreneur ecosystem to provide services in the areas of Investment Banking, Wealth Management, Credit Solutions and Asset Management. Avendus relies on its extensive experience and in-depth domain understanding to offer differentiated solutions that enable clients to meet their strategic aspirations.
Avendus Capital, the investment banking arm, is consistently ranked among the top investment banks in the country, with a strong track record of domestic and cross-border transactions. The Asset Management business of Avendus currently runs nine funds based on different strategies – private equity, long only and alternates. Avendus manages India’s largest hedge funds and its flagship scheme – Avendus Absolute Returns Fund was awarded the Best India Hedge Fund by EurekaHedge Global Hedge Fund Awards, Singapore and Best Single Country by AsiaHedge Funds, Hongkong, both in 2019. Early last year, Avendus also launched India’s first ESG fund –Avendus India ESG Fund. The Credit Solutions business of Avendus works closely with high-quality mid-market businesses to meet their funding requirements and currently manages an AUM of INR 1000+ crores across multiple transactions, with no delinquencies.
Established in 1999 in Mumbai, India, Avendus's presence in 10 cities across India, US, UK and Singapore brings together global perspectives and equips our inter-country teams with the expertise to handle complex business requirements of ambitious entrepreneurs. For more information, please visit http://www.avendus.com