Motilal Oswal Private Wealth Management (MOPWM), the private wealth business arm of Motilal Oswal Financial Services Ltd., has roped in Virendra Somwanshi as the Managing Director and CEO, who brings with him about two decades of experience in a variety of roles.
Previously having worked with the Bank of Baroda Capital Market as the Head of Wealth Management & Equities, he has the experience of building a scaled-up wealth management business that separates out advisory and distribution in two diverse legal entities. Having worked with the Citi Group for about 17 years, he is also an expert in scaling up retail banking sectors, operating across consumer banking, securities and investment management in the country as well.
Somwanshi’s predecessor, Vijay Goel would be taking over as the CEO of Motilal Oswal Home Finance Ltd. which is the group’s home finance business arm.
“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,” said Motilal Oswal, Managing Director, Motilal Oswal Financial Services.
At a time when the financial sector is facing the challenge of adapting to a fast pace of technological transformation, such an appointment at Motilal Oswal Private Wealth Management team would make Virendra Somwanshi in-charge of propelling the team towards being at the forefront of technological change.