New Delhi, June 2 -- Godrej Investments, the holding company for the financial services businesses of the Godrej Industries Group, launched its wealth management arm, becoming the latest conglomerate to try and tap India's burgeoning affluent population.

The group will carry out this business through Godrej Wealth, a subsidiary of Godrej Investments, sitting alongside subsidiary Godrej Capital, which houses the lending business.

Kunal Karnani, who has been with Godrej Capital since inception as its chief financial officer after stints at Shriram Housing Finance and Paytm, has been elevated as chief executive officer of the wealth management business. He will report to Manish Shah, managing director and CEO of Godrej Capital.

Mint repor...