Avendus Wealth Appoints Umang Papneja as Executive Vice Chairman and CEO

Avendus Wealth Management has appointed Umang Papneja as its Executive Vice Chairman and Chief Executive Officer, bringing a seasoned wealth management and investment professional into a key leadership role as the firm prepares for its next phase of growth.

Papneja joins Avendus after serving as Chief Executive Officer of Julius Baer India, where he was responsible for the development of the Swiss private bank’s onshore business. He brings more than two decades of experience spanning private banking, investment strategy and wealth management.

At Avendus, Papneja will lead the wealth management business and work towards strengthening its offering for founders, entrepreneurs, family offices, corporates and ultra-high-net-worth individuals.

From Julius Baer to Avendus

During his tenure at Julius Baer India, Papneja led the growth of the bank’s onshore franchise and worked with clients across India’s wealth management ecosystem.

His move to Avendus comes at a time when private wealth managers are expanding their capabilities to meet the increasingly complex requirements of business owners and affluent families. Clients are seeking integrated solutions that combine investment management, lending, advisory and long-term wealth planning.

Papneja’s experience in private banking and investment-led wealth management is expected to support Avendus as it deepens its relationships with India’s wealth creators.

Extensive investment and wealth management experience

Before joining Julius Baer India, Papneja served for more than a decade as Chief Investment Officer at IIFL Wealth, which is now known as 360 ONE.

In that role, he was responsible for investment strategy across asset classes, gaining extensive experience in portfolio construction, investment allocation and wealth management solutions for affluent clients.

Earlier in his career, Papneja held roles across the private banking and investment sectors, building expertise in advising high-net-worth individuals and families on their financial and investment needs.

His professional background combines investment knowledge with experience in developing client relationships and scaling wealth platforms.

Avendus focuses on founders and family offices

Avendus Group said Papneja will help lead the wealth management business through its next stage of expansion, with a particular focus on founders, corporates and family offices.

Gaurav Deepak, Co-founder and CEO of Avendus Group, highlighted the organisation’s long-standing relationships with entrepreneurs and its understanding of both their personal and business objectives. He said developing a differentiated wealth platform around these relationships remains a strategic priority for the group.

Kaushal Aggarwal, Co-founder of Avendus Group, pointed to the growing sophistication of wealth creators and affluent families in India. He said Papneja’s experience with leading families and wealth creators would be relevant to the firm’s growth plans.

The company also acknowledged the contribution of Apurva Sahijwani, who helped build Avendus Wealth Management’s business.

A growing wealth management platform

Founded in 2010, Avendus Wealth Management operates an open-architecture platform serving family offices, ultra-high-net-worth individuals and corporate clients.

The firm combines research, investment, credit and advisory capabilities to offer customised wealth solutions. Its services are designed to address a range of client requirements, including investment management, lending, asset allocation and strategic financial advisory.

Avendus Wealth Management oversees more than USD 9 billion in assets under management. The wider Avendus Group operates across investment banking, institutional equities, wealth management, credit solutions and asset management, with a presence across 12 cities in India, the United States and Singapore.

Leadership at a time of expanding private wealth

Papneja’s appointment comes amid a period of rising wealth creation in India and increasing demand for specialised financial advice.

Founders, entrepreneurs and family offices are increasingly looking for wealth partners capable of addressing both personal wealth and business-related financial requirements. This has encouraged wealth management firms to expand beyond traditional investment services into lending, succession planning, family office advisory and integrated asset solutions.

With Papneja taking charge, Avendus Wealth Management is expected to build on its existing platform and strengthen its engagement with India’s wealth creators.

The appointment also marks a new chapter for Papneja following his leadership role at Julius Baer India and his earlier investment leadership position at IIFL Wealth.