360 ONE WAM shares rise over 2% after appointing Jefferies India Head and MD as new CEO
360 ONE WAM appoints Jefferies India Country Head Aashish Agarwal as Group CEO, with founders Karan Bhagat and Yatin Shah taking focused leadership roles across strategy and wealth management.
Shares of 360 ONE WAM surged over 2% to Rs 1,096 on the BSE on Wednesday, following the company's announcement that they had appointed Jefferies India Head and Managing Director Aashish Agarwal as their new Chief Executive Officer. Agarwal will collaborate with the firm's founders to further expand and fortify the business. Agarwal recently departed from Jefferies, where he has been serving as Managing Director and Country Head since April 2020, during which he bolstered the India franchise over the past six years.
Prior to joining Jefferies, Agarwal spent 13 years at CLSA, where he held the positions of Executive Director and Head of Research, and began his career at Merrill Lynch from 2004 to 2007. Agarwal, a Chartered Accountant and a postgraduate of SPJIMR, Mumbai, expressed his delight at joining 360 ONE, stating that he looks forward to working closely with the founders to build an Indian financial institution of enduring scale and global standing.
The new CEO emphasized the growing sophistication of clients and family offices in India, highlighting the importance of providing a comprehensive range of investment, capital raising, and strategic advice services under one roof. Karan Bhagat, the current Managing Director and CEO, will assume the role of Vice Chairman while continuing as Managing Director of the Group.
Yatin Shah, one of the co-founders, will remain in charge of the wealth management business, which has been the firm's focus for the past decade. The new leadership structure aims to consolidate 360 ONE's three verticals - Wealth Management, Asset Management, and Capital Markets - under a single platform, positioning the company to cater to the scale required for India's next phase of growth.
As the Indian economy progresses towards a USD 5 trillion and eventually a USD 15 trillion economy, 360 ONE aims to become a leading domestic financial institution that serves the country's sophisticated capital allocators.
Written by urgent.news from The Economic Times - Top News's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
