Ashish Kehair | will replace Nitin Jain as the Managing Director and Chief Executive Officer of edelweiss Wealth Management (EWM). In his new role, Ashish will lead strategic initiatives and business operations for EWM, reporting to the board of directors, the company said in a press statement on Wednesday. Nitin Jain, who has worked with the Edelweiss Group for nearly 15 years, resigned last month to pursue entrepreneurial interests.

Ashish Kehair was the head of the Wealth Management Division since 2017. In that role, he has been responsible for the expansion of assets under the advisor since joining. He has previously held executive positions IDFC Bank And

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Ashish is backed by a strong core leadership team comprising Alok Sehgal, Anshu Kapoor, Rahul Jain, Riyaz Marfatia, Shiv Sehgal, and Varun Bajpayee bringing rich and varied industry experience and has been a part of co-creating the EWM business.

In a statement on the appointment of Ashish Kehair, Rashesh Shah, Chairman and MD, Edelweiss Group, said: “We are fortunate to have a proven industry stalwart at Ashish Kehair to lead EWM and work with stakeholders to take EWM forward. worked together. Ashish is a proven business and people leader, and we look forward to supporting his success. ”

EWM reported revenue of Rs 1043 crore and net profit of Rs 245 crore for FY21. Its client assets under advisory now stand at Rs 1.68 trillion, increasing from Rs 185 billion in 2015.

PAG, one of the world’s largest Asia-focused investment groups, recently made a strategic investment in EWM for a stake of 61.5%. Edelweiss holds 38.5% stake in EWM with an option to increase it to 44%.