Motilal Oswal Private Wealth Management (MOPWM), the Private Wealth business of Motilal Oswal Financial Services Limited, has elevated Ashish Shanker as Managing Director. Earlier, Shanker was the Deputy MD. Intending to strengthen the leadership, the wealth management business has also announced the promotion of Mihir Kothari; another Motilal Oswal Financial Services veteran as Associate Director – Sales of Motilal Oswal Private Wealth Management.
Motilal Oswal, MD & CEO, Motilal Oswal Financial Services, said, “We are delighted to have Ashish as the leader at the helm of our wealth management business and wish him the very best in scaling the AUM of MOPWM to Rs 1 lac crores for the next 5 years. This is a continuation of our tradition to provide long growth pathways to our homegrown talent, and we wish to continue to pursue this path in the coming years.”
Ashish is an industry veteran and holds close to 24 years of experience across various roles. He joined Motilal Oswal Wealth Management as Head – Investments in 2012 and was instrumental in building the investment, research and advisory platform, creating the proprietary 4C fund manager framework and the flagship publication “Alpha Strategist” over the last decade. He has also been instrumental in onboarding many large clients and has been responsible for driving the senior relationship team.
Commenting on his appointment, Ashish Shanker said, “It is a privilege to lead the wealth management business at Motilal Oswal. This is a business I have been very passionate about and I believe the size of the opportunity is huge. Hence I am extremely excited to scale this business to its rightful size. I look forward to creating value for the organization and our esteemed clients by working relentlessly with passion and commitment.”
The elevation will strengthen the team of MOPWM and provide strong leadership and renewed vision.
Speaking on the elevation of Kothari, Motilal Oswal, MD & CEO, Motilal Oswal Financial Services, said, “We are happy to announce that Mihir will now be joining the Leadership Team of Motilal Oswal Private Wealth Management as Associate Director – Sales. He will be responsible for leading the Senior Relationship Managers’ team and will also add value to the overall business strategy.” Mihir Kothari will be reporting to Mr Shanker in his new role.
Mihir Kothari is been associated with Motilal Oswal Group for 23 years. He has worked across various segments of the Retail broking business (now known as Broking & Distribution) including handling branch operations, franchisee servicing and franchisee acquisition before moving on to PMS sales (now an integral part of Motilal Oswal Wealth Management). He moved to the Institutional Equities Business in 2007 and started servicing the emerging private insurance companies and Mutual funds before taking on the role of Head – Global sales in the IE business in 2019.
“The pandemic has influenced the investment behaviour of the ultra HNIs in the country. The role of wealth advisors has become even more prominent in the current times of adversity. My new role will enable me to provide prudent advisory and solutions which will help not only in wealth creation but also in wealth preservation for our clients,” Mihir Kothari commented on the announcement.