Motilal Oswal Financial Services announces leadership changes across multiple businesses
The company appointed new heads for its alternatives, retail broking, and private wealth divisions to drive growth.
Motilal Oswal Financial Services (MOFSL) announced several leadership appointments across its alternatives, retail broking, and private wealth businesses on Tuesday, according to The Economic Times and Moneycontrol.
Padmanabh Sinha will join Motilal Oswal Alternates as Managing Director and CEO. Vishal Tulsyan, the founder of the alternatives platform, will join the MOFSL board and remain Executive Chairman.
Suresh Shukla, the current Executive Director and Chief Business Officer, will become MD and CEO of the retail broking and wealth management business. Anupam Guha and Akash Hariani will jointly lead the Private Wealth Management business as MD and CEOs, while Pratik Oswal will serve as Chairman of MOPWM.
The restructuring follows the exits of Ajay Menon, the MD and CEO of retail broking, and Ashish Shankar, who co-led the Private Wealth Management business. Both are leaving the group to pursue entrepreneurial ventures.
Co-founder Motilal Oswal stated that the changes aim to strengthen leadership depth and institutional capabilities. He thanked Menon and Shankar for their contributions and welcomed Sinha to the group.
The announcement follows MOFSL's September-quarter results, which showed an operating profit after tax of Rs 718 crore, a 29 per cent increase year-on-year.