Avendus Wealth Management announces the appointments of Pankaj Fitkariwala and Ashvini Chopra as Executive Directors

16th June 2020 | Mumbai | Wealth Management

Avendus Wealth Management, the wealth management arm of leading financial services firm, Avendus Capital, is pleased to announce the appointments of Pankaj Fitkariwala and Ashvini Chopra as Executive Directors, with effect from June 2020. 

Pankaj has joined as the COO (chief operating officer) of Avendus Wealth. He brings with him 21 years of rich wealth management experience, spanning an extensive range of functions across operations, technology, risk and compliance. His strong credential of delivering superior customer journeys, coupled with his deep understanding of risk and compliance, will help Avendus in constructing a next-gen platform for wealth management. Prior to joining Avendus Wealth, Pankaj worked with IIFL Wealth Management Limited as Senior Managing Partner and during his association with IIFL Wealth was responsible for various functions including operations, technology, legal, compliance, risk, accounts and finance.

Before IIFL Wealth, Pankaj worked with Barclays Bank where he headed operations and technology for the bank’s wealth management business. During his career, Pankaj has also worked with ABN AMRO Bank and Kotak Mahindra Group. At ABN AMRO he was responsible for Private Banking Clients, whereas during his stint with Kotak Mahindra Group, he was instrumental in setting up the Private Client Business for Kotak Mahindra Inc, USA.

Ashvini joins Avendus Wealth Management from Bennett Coleman & Co Limited (BCCL) and will lead the family office vertical.  In his role at the family office (of BCCL), his responsibilities included lifestyle management, travel planning, tax planning, tax filings, governance administration, personal accounts management, investment management and family expenses management. With a career spanning 27 years across family office management, private banking and capital markets, he has a strong track record in the industry. He has worked with over 130 large and small families, providing tailored solutions to complex issues such as trusteeship, succession and estate planning, and family office administration

Under Ashvini’s aegis, Avendus Wealth aims to further bolster its family office proposition, encompassing areas related to financial planning, risk management, taxation, compliance, family governance and strategy, enhancing its capability to offer high-quality, bespoke family office solutions to clients. 

Pankaj Fitkariwala, on joining Avendus Wealth said, “Avendus Wealth is renowned for providing innovative, custom-made solutions to an eclectic range of high-quality clients. I am happy to have this opportunity to work with the company to achieve its strategic vision of being the best in business. I am looking forward to supporting our wealth management customers in meeting their briskly evolving needs of today and tomorrow.”

On joining Avendus Wealth, Ashvini Chopra said, “I am excited to be a part of the Avendus Wealth Management and its exceptional leadership team. Avendus Wealth is an all-encompassing holistic ecosystem, anchored by professional depth and brilliance, providing a differentiated range of services to its clients. I look forward to contribute significantly on this journey of excellence.”

Welcoming Pankaj and Ashvini on board, Nitin Singh, MD & CEO of Avendus Wealth Management said, “We are happy to welcome Ashvini and Pankaj on board. Between them, they bring in over 48 years of impeccable experience across different sectors of the industry. As Avendus Wealth continues to double down on building the next-generation platform for wealth management, we look forward to utilising their prowess and leadership in their respective fields to deliver superior customer experiences and achieve expansive growth. We are strategically using the dislocation in the market to increase market share, and are identifying key talent with deep expertise to build out the platform. Our focus will continue to be on building and working with the best talent in the industry. I look ahead to working with this extremely talented duo and take the company to the next level while continuing to create value for clients, employees and stakeholders.” 

About Avendus 

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 various 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 Group’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 https://www.avendus.com

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