MUMBAI, India, Feb. 20, 2023 /PRNewswire/ -- Centrum Wealth Limited, the wealth advisory arm of the diversified financial services major Centrum Group, has strengthened its team PAN India by hiring senior industry professionals for its Sales and Product functions. Anticipating a sharp growth in the Wealth Management industry, fuelled by rising number of HNIs and Unicorns, Centrum Wealth has recently hired over 10 senior professionals in the last two months, to boost its client outreach.
Senior Private Bankers formerly with Domestic Wealth Management companies - Kartik Sabharwal, Siddhartha Kapila and Rahul Arora, each with approx. 18-20 years of experience have come on board as Managing Partners. Vinod Khatri and Gaurav Dange, both with approx. 20 years of experience have joined from Foreign Private Banks to further augment Centrum's sales efforts. Additionally, Umang Thakkar (20 years of experience) has joined as a senior member in the Product team and will work towards strengthening the third party products platform.
Further as part of its team expansion plans, Centrum Wealth plans to hire 50 additional members over the next few months across multiple functions.
Commenting on the recent team expansion, Deepa Poncha, Director & Head - Human Resources, Centrum Group, said, "Organised Wealth management players in India, currently manage only 12-15% of the total available wealth, whereas in developed nations, this number is as high as 50%. Attracting and retaining the right talent remains key to exploiting the huge growth potential. Our voluntary attrition is only 3% over the last 5 years, which is one of the lowest in the industry, whereas our average vintage (Employee lifecycle) is 5.5 years, one of the highest in the industry."
For the first half of FY2023, Centrum Wealth has demonstrated a revenue growth of ~40% and a PAT growth of ~90%. It currently manages client Assets of over Rs 35,000 crore and employs approx. 300 members.
About Centrum Group
One of India's fast growing and diverse financial services groups, Centrum has been serving the financial and advisory needs of institutions and individuals for two and a half decades. Our Institutional services include Investment Banking and Broking to FIIs, Pension Funds, Indian Mutual Funds, Domestic Institutions etc. We also provide Wealth Management Services to HNIs and Family Offices, Affordable Housing finance in tier 2 & 3 cities and Retail Broking services. Our Asset Management business has funds across Private Debt and Venture Capital. We have been providing MSME Loans and Micro finance for a few years. With these businesses now merged into Unity Small Finance Bank, our most recent venture, they are expected to scale up substantially. We are a PAN India Group with a strong leadership team of seasoned professionals with a successful track record, operating out of 140+ cities and with an international presence in Singapore.
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