Financial services firm Equirus Group has made a significant leadership appointment for its newly launched non-banking financial company (NBFC), marking a strategic expansion in the wealth management sector.
New Leadership for Expanding NBFC Operations
Equirus Group announced on Thursday the appointment of Manishkumar Jain as the chief executive officer of Equirus Finance, its freshly launched non-deposit-taking NBFC. This crucial appointment comes just days after the company received formal approval from the Reserve Bank of India (RBI) to operate the financial entity.
According to the company statement, Jain will spearhead the NBFC's growth trajectory and develop a diversified lending platform specifically targeting high net-worth individuals (HNIs), family offices, and business promoters. This focused approach aims to tap into the specialized financing needs of India's affluent segments.
Proven Expertise to Drive Growth
Ajit Deshmukh, Managing Director at Equirus, expressed strong confidence in the newly appointed CEO. He emphasized that Jain's proven leadership capabilities and deep domain expertise make him perfectly suited to build and scale the NBFC business from the ground up.
The selection of Jain reflects Equirus Group's strategic intent to establish a strong foothold in the specialized lending space, leveraging his extensive experience in the financial services industry.
Integrated Wealth Management Vision
Manishkumar Jain shared his enthusiasm about the new role, describing the opportunity to build a wealth-focused NBFC integrated with Equirus' existing platforms as truly exciting.
I look forward to creating a client-centric ecosystem that delivers bespoke funding solutions while maintaining the highest standards of risk management and regulatory compliance, Jain stated, outlining his vision for the new venture.
The integration with Equirus' current platforms is expected to create synergies that enhance service delivery to clients seeking personalized financial solutions. This move positions Equirus to offer comprehensive wealth management services that combine traditional investment advisory with specialized lending products.
The establishment of Equirus Finance and the appointment of its CEO represent a significant milestone in Equirus Group's expansion strategy, potentially reshaping how wealth management services are delivered to India's growing affluent population.
