New Delhi, Sept. 15 -- Avendus Wealth Management has appointed former Julius Baer executive Umang Papneja as its executive vice chairman and chief executive officer.
In the new role, Papneja will lead Avendus' wealth business through its next phase of growth, deepen its proposition for founders, corporate houses and family offices, the firm said in a press note.
Papneja had stepped down as Julius Baer's India head in May "to pursue other opportunities". Previously, he has also served as the chief investment officer at asset manager 360 ONE.
"Few firms bring together institutional expertise, investment capabilities and client relationships the way Avendus does, and that is what makes this opportunity so compelling," Papneja said in the note.
"Our goal is to build on the strong platform already in place, further enhancing our wealth, asset and lending solutions to better serve the evolving needs of our clients," he added.
Mumbai-headquartered Avendus, established in 1999, provides investment banking, institutional equities, wealth management, credit, and asset management services. The firm is present in 12 cities across India, the US, and Singapore.
In late 2025, Japan's Mizuho Securities Co inked a deal to acquire a majority stake in Avendus from private equity giant KKR. Mizuho Securities is a unit of Mizuho Financial group, which owns Mizuho Bank.
Avendus Wealth Management, the wealth business of Avendus Group, manages assets worth over $9 billion. It caters to a wide range of clients including family offices, ultra-high-net-worth individuals, and corporate houses.
Published by HT Digital Content Services with permission from VC Circle.