The organizational transition places Padmanabh Sinha in charge of the alternates business, while Suresh Shukla takes over the retail broking and wealth management division. The changes follow the exits of Ajay Menon and Ashish Shankar, who are both stepping down from the financial services group to pursue entrepreneurial ventures. These high-level appointments coincide with strong operational gains, including a 29% rise in operating profit after tax to Rs 718 crore for the September quarter.
Key points
The leadership realignment aims to deepen management bench strength following multiple hi…: The leadership realignment aims to deepen management bench strength following multiple high-profile exits to pursue entrepreneurial ventures.
Company earnings demonstrated substantial momentum, propelled by a 69% profit surge withi…: Company earnings demonstrated substantial momentum, propelled by a 69% profit surge within the asset management division.
Market sentiment reacted favorably to the joint corporate update, driving shares up 4.73%…: Market sentiment reacted favorably to the joint corporate update, driving shares up 4.73% to close at Rs 1,010 on the NSE.
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Padmanabh Sinha will join Motilal Oswal Alternates as Managing Director and CEO, while Vishal Tulsyan, founder of the alternatives platform, will be inducted into the MOFSL board and continue as Executive Chairman.
Sinha previously served as Executive Director and Chief Investment Officer at the National Investment and Infrastructure Fund (NIIF), which has assets under management of $5 billion. He has also held leadership positions at Tata Capital and Temasek.
In the retail broking and wealth management business, Suresh Shukla, currently Executive Director and Chief Business Officer, will take over as MD and CEO. He brings nearly 30 years of industry experience, including a 25-year stint at Kotak Securities and three years at SBI Securities.
The changes also include the exit of Ajay Menon, currently MD and CEO of the retail broking business, and Ashish Shankar, who was co-leading the Private Wealth Management business. Both will move on to pursue entrepreneurial ventures outside the group.
Meanwhile, Anupam Guha and Akash Hariani will jointly lead the Private Wealth Management business as MD and CEOs. Pratik Oswal, co-promoter and board member, will become…
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