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The COO, who founded the business 12 years ago, is returning after four years of working in other wealth management organisations.
360 ONE, an
India-based wealth and asset management house, has appointed
financial industry figure Pankaj Fitkariwala as chief operating
officer.
Fitkariwala, who is a founding member of the business, is
returning after a four-year stint outside of the firm, during
which he was the COO of Avendus Wealth and Avendus Finance. Most
recently, he co-founded Wealth Fintech Goalteller, an
India-registered investment advisor and distributor of financial
products.
Other roles in a career lasting more than 20 years have included
tenures at Kotak Mahindra Group, ABN AMRO, and Barclays.
“Pankaj played a pivotal role in his previous 12-year tenure at
360 ONE, and was instrumental in establishing and scaling our
operations, technology, risk, and other critical functions. His
extensive experience and innovative mindset will be invaluable as
we embark on new strategic initiatives to drive our growth,”
Karan Bhagat, founder and chief executive, said.
360 ONE is the investment and financial advisor to 7,200 high net
worth and ultra-high net worth families, collectively holding
about $56.3 billion of assets. It is headquartered in Mumbai and
operates from 25 locations in India.
The story also speaks to India’s continued
growth as a wealth management market. For example, as
reported this week, Eton Solutions, which
provides cloud-based services for family offices, launched a
reporting platform, AtlasFive, in India. Last week, it also
announced that the launch client is Catamaran, the family office
of Infosys’s founder, Narayana Murthy.
India is also trying to compete against international financial
and wealth centres such as Singapore and Dubai. As an example,
Japan’s Sumitomo Mitsui Banking Corporation (SMBC) is starting
operations at the new GIFT City financial hub. HSBC, which is
planing to offer dollar-denominated products to
non-residents from this location, is also planning to
offer dollar-denominated products to non-residents from GIFT
City – Gujarat International Finance Tec-City, to give its
full name.
Also, read this story from early June outlining wealth management
reactions to the Indian national election
results this year.
