Angel One, Kotak Mahindra Bank arm executives to launch wealth mgmt biz

Domestic brokerage Angel One has roped in top executives from a Kotak Mahindra Bank arm to launch its wealth management business.

Srikanth Subramanian, the former chief executive of Kotak Cherry, will be the co-founder and chief executive of Angel One Wealth, an official statement said.

His colleagues from the Kotak Mahindra Bank group -- Shobhit Mathur and Dharmendra Jain -- will also join Angel's new business as co-founders, it added.

Mathur will lead the wealth-tech and customer excellence teams, while Jain will look at investment solutions and products.

The new business leaders will collaborate with Angel One in tapping opportunities in the wealth management space, catering to the growing needs of emerging HNIs (high networth individuals) and Ultra HNIs, according to the statement.

"The wealth management business has witnessed significant growth over the last decade with rising affluents in our country. We believe this space is ripe for digital disruption," Angel's chairman and managing director Dinesh Thakkar said.

The wealth management business will help it enhance its presence in the full-stack financial services space, he added.