Umang Papneja exits Julius Baer India to join Avendus Wealth as CEO

Avendus Wealth Management has appointed Umang Papneja as its Executive Vice Chairman and Chief Executive Officer, marking a significant leadership transition as the firm looks to expand its wealth management business amid rising wealth creation in India.

Papneja joins Avendus after serving as Chief Executive Officer of Julius Baer India, where he led the growth of the Swiss private bank's onshore franchise. He brings more than two decades of experience across private banking, investments and wealth management.

The appointment comes as wealth managers seek to strengthen their offerings for founders, business owners, corporates and family offices, a segment witnessing increasing demand for sophisticated investment, lending and advisory solutions.

Leadership change at a pivotal stage

Announcing the appointment, Avendus said Papneja will lead the wealth business through its next phase of growth and deepen the firm's proposition for founders, corporates and family offices.

Prior to Julius Baer India, Papneja spent more than a decade as Chief Investment Officer at IIFL Wealth, now known as 360 ONE, where he oversaw investment strategy across asset classes.

Speaking on his appointment, Papneja said Avendus combines institutional expertise, investment capabilities and long-standing client relationships, creating a strong platform for future growth.

"Our goal is to build on the strong platform already in place, further enhancing our wealth, asset and lending solutions to better serve the evolving needs of our clients," he said.

Avendus sharpens focus on founder and family office relationships

Gaurav Deepak, Co-founder and CEO of Avendus Group, said the firm's long-standing relationships with entrepreneurs have helped it understand both the personal and business aspirations of founders.

A growing number of Indian entrepreneurs are seeking integrated advisory, investment and lending solutions as wealth creation accelerates across sectors.

Deepak said building a differentiated wealth platform around these relationships remains a strategic priority for the group.

He added that Papneja brings a combination of investment expertise, experience in scaling businesses and trusted relationships with many of India's leading wealth creators.

Wealth creation drives demand for specialised advice

Kaushal Aggarwal, Co-founder of Avendus Group, said India is witnessing an "extraordinary period of wealth creation", while the requirements of founders and affluent families are becoming increasingly sophisticated.

According to Aggarwal, Papneja's experience working with leading families and wealth creators positions him to guide the business through its next phase of expansion.

He also acknowledged the contribution of Apurva Sahijwani, who helped build the firm's wealth management business.

Key facts

• Umang Papneja appointed Executive Vice Chairman and CEO of Avendus Wealth Management
• Previously served as CEO of Julius Baer India
• Earlier spent more than a decade as Chief Investment Officer at IIFL Wealth (360 ONE)
• Avendus Wealth Management oversees more than USD 9 billion in assets under management
• The business serves family offices, ultra-high-net-worth individuals and corporates
• Avendus Group operates across investment banking, institutional equities, wealth management, credit solutions and asset management
• The group has a presence across 12 cities in India, the US and Singapore

Building the next chapter

Founded in 2010, Avendus Wealth Management has built an open-architecture platform serving family offices, UHNIs and corporate clients. The firm said it combines research, investment, credit and advisory capabilities to deliver customised wealth solutions.

With assets under management exceeding USD 9 billion, the business enters its next phase under new leadership at a time when India's expanding base of entrepreneurs and wealthy families is creating fresh opportunities for the wealth management industry.