 "Altor Executive Search, Vito India merge to tap growing financial sector")
Two domestic executive search firms, Vito India Advisors and Altor Executive Search, will together form India's largest financial sector search and advisory firm 'VitoAltor' Advisors. This is an indication of consolidation to attain scale for tapping opportunities in the rapidly expanding Indian financial sector.
VitoAltor will commence joint operations from October 1, 2018, but will take around three months to be fully integrated. The new entity will be India's largest financial services executive search specialist (by market share), said Vito and Altor in a combined statement.
The partners and teams of Vito and Altor have entered into a binding agreement to form a larger platform -- VitoAltor Advisors LLP, said Saket Jain, founding-partner of Vito India Advisors, and Supreet Singh, founder of Altor Executive Search. A technical arrangement involves the merger of Altor with Vito.
Reuben Mistry, CEO, Vito India, will be the new CEO of the merged entity. The new firm will have a combined strength of 60-plus search consultants in Mumbai and New Delhi. Commenting on the merger, Mistry said the merged entity will draw upon Vito's institutional strength in wholesale-led businesses, along with Altor's strong retail-led franchise -- wealth, retail finance, insurance, digital and consumer technology.
Singh said the transaction will triple go-to-market and coverage capabilities. The combined firm will help us with deeper sectoral coverage and functional specialisation, he added.
The new entity will continue to expand organically across sectors and selectively look at inorganic situations across the human capital services domain.
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