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HomeBanking and financeAshish Kehair promoted to MD & CEO of Edelweiss Wealth Management in...

Ashish Kehair promoted to MD & CEO of Edelweiss Wealth Management in place of Nitin Jain

Ashish Kehair will change Nitin Jain as managing director and chief government officer of Edelweiss Wealth Administration (EWM). Within the new function, Ashish will lead the strategic initiatives and enterprise operations for EWM, reporting to the Board of Administrators, the corporate stated in a press assertion on Wednesday. Nitin Jain, who labored with the Edelweiss group for nearly 15 years, resigned final month to pursue entrepreneurial pursuits.

Ashish Kehair was the pinnacle of the wealth administration division since 2017. In that function, he has been answerable for increasing belongings below advisory since becoming a member of. He has beforehand held government positions with IDFC Bank and


Ashish is supported by a robust Core Management Crew comprising Alok Saigal, Anshu Kapoor, Rahul Jain, Riyaz Marfatia, Shiv Sehgal, and Varun Bajpai brings wealthy and numerous business expertise and have been a part of co-creating the EWM enterprise.

In a press release on Ashish Kehair’s appointment, Rashesh Shah, Chairman & MD of Edelweiss Group, stated: “We’re lucky to have a confirmed business veteran in Ashish Kehair tackle the management of EWM and work collaboratively with the stakeholders to take EWM ahead. Ashish is a confirmed enterprise and other people chief, and we sit up for supporting his success.”

EWM reported revenues of Rs 1,043 crores and a web revenue of Rs 245 crores for FY21. Its buyer belongings below recommendation now quantity to Rs 1.68 trillion, rising from Rs 185 billion in 2015.

PAG, one of many world’s largest Asia-focused funding teams, has lately made a strategic funding in EWM for a stake of 61.5%. Edelweiss continues to carry a 38.5% stake in EWM with the choice to extend it additional to as much as 44%.

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