New Delhi, Nov. 12 -- Financial services group Avendus said Thursday it has appointed Shuja Siddiqui as the chief executive officer of its non-banking financial services unit Avendus Finance Pvt Ltd.
The Mumbai-based group also said that Nilesh Dhedhi, who was previously the managing director and chief executive officer of Avendus Finance, will now head the private credit business at Avendus Capital.
Siddiqui comes with over two decades of experience across wealth management, credit and capital markets. Most recently, he served as the managing director and senior advisor at Julius Baer Capital. Apart from this, he has also worked at Motilal Oswal Securities and 360 ONE Wealth.
Siddiqui will lead the firm's NBFC unit that would focus on offering loans against securities (LAS), and develop tailored lending solutions for private banking clients, Avendus said in a press note.
"There is a significant opportunity to build a focused, LAS-led lending business that offers entrepreneurs and families tailored solutions to meet their evolving financial needs," Siddiqui said in the note.
Established in 1999, the Avendus Group provides services across investment banking, institutional equities, wealth management, asset management and credit solutions. Avendus is today present in 12 cities across India, US and Singapore.
Last year, Japan's Mizuho Securities Co inked a deal to acquire a stake in Avendus from private equity giant KKR.
Published by HT Digital Content Services with permission from VC Circle.