New leadership for Avendus Wealth Management Avendus Wealth Management announced today that Umang Papneja will take charge as Executive Vice Chairman and Chief Executive Officer. The move is positioned as a catalyst for the firm’s next stage of expansion, particularly in serving founders, corporates and family offices.
Papneja’s background Papneja arrives with more than two decades in private banking and wealth management. He most recently served as CEO of Julius Baer India, where he oversaw the growth of the bank’s on‑shore franchise. Prior to that, he spent over ten years as Chief Investment Officer at IIFL Wealth (now known as 360 ONE), directing investment strategy across multiple asset classes.
Statements from the leadership team In his first public comment, Papneja said, “I am excited to join the firm at an important stage in its evolution. Few firms bring together institutional expertise, investment capabilities and client relationships the way Avendus does, and that is what makes this opportunity so compelling.”
Co‑founder and CEO of Avendus Group, Gaurav Deepak, added that the firm’s long‑standing ties with India’s entrepreneurial ecosystem make the new role critical. “Building a distinctive wealth platform around these relationships is an important priority for us,” he said, noting Papneja’s rare blend of investment know‑how and trust among leading families.
Co‑founder Kaushal Aggarwal highlighted the broader market context, stating that India is experiencing an “extraordinary period of wealth creation” and that the firm needs sophisticated solutions for founders and families. He also thanked outgoing leader Apurva Sahijwani for his contributions.
Avendus Wealth Management at a glance Founded in 2010, Avendus Wealth Management operates as the wealth‑focused subsidiary of Avendus Group. The business manages assets exceeding USD 9 billion and offers an open‑architecture platform that integrates research, investment ideas, execution and credit solutions for ultra‑high‑net‑worth individuals and institutions.
Looking ahead Papneja’s mandate includes strengthening the firm’s wealth, asset‑management and lending capabilities while leveraging Avendus’ broader research and investment franchise.
--- *The announcement was made through an official press release from Avendus Wealth Management.*