Mumbai-based Avendus Wealth Management Private Limited has appointed Umang Papneja as Executive Vice Chairman and Chief Executive Officer (CEO), with responsibility for leading the company’s wealth management business.
Papneja brings over 20 years of experience across private banking and wealth management. Before joining Avendus Wealth, he served as the Chief Executive Officer of Julius Baer India, where he was responsible for expanding the firm’s onshore franchise.
He has also spent more than a decade as Chief Investment Officer at IIFL Wealth, now known as 360 ONE, where he was involved in shaping investment strategies across asset classes. In his new role at Avendus Wealth, Papneja is expected to focus on deepening the firm’s proposition for founders, corporates and family offices, while further strengthening its wealth management platform.
Papneja will succeed Apurva Sahijwani, who currently leads Avendus Wealth Management as Managing Director and CEO. Sahijwani took over the leadership role in May 2024.
Commenting on the appointment, Gaurav Deepak, Co-founder and CEO, Avendus Group, said that building a distinctive wealth platform around client relationships remains an important priority for the group. He highlighted Papneja’s combination of investment expertise, experience in building businesses at scale and relationships with leading families in India.
Also Read: NPCI Introduces 0.4% MDR on UPI Transactions Above ₹2,000
The appointment comes as Avendus continues to strengthen its wealth management business, with Papneja’s experience spanning investment management, private banking and the development of wealth businesses expected to support the company’s next phase of growth.
