Avendus Wealth Management announced on Tuesday the appointment of Umang Papneja as Executive Vice Chairman and Chief Executive Officer, succeeding Apurva Sahijwani in the role.
Sahijwani had led Avendus Wealth Management as Managing Director and Chief Executive Officer since his appointment in May 2024.
PAPNEJA JOINS FROM JULIUS BAER INDIA
Papneja was most recently Chief Executive Officer of Julius Baer India, a role he had held since August 2022; Julius Baer announced his departure in May 2026, and he remained in the role until July 2026. Before that, he spent over a decade as Chief Investment Officer at IIFL Wealth, now known as 360 ONE.
Avendus Wealth Management manages assets of over USD 9 billion and was established in 2010. It serves family offices, ultra-high-net-worth individuals and corporates.
FOUNDERS WELCOME NEW LEADERSHIP
The announcement included quotes from Papneja himself as well as from Gaurav Deepak, Co-founder and Chief Executive Officer of Avendus Group, and Kaushal Aggarwal, Co-founder of Avendus Group.
Papneja said: "Our goal is to build on the strong platform already in place, further enhancing our wealth, asset and lending solutions to better serve the evolving needs of our clients."
Papneja's move follows his exit from Julius Baer India, where he remained through July 2026 after his departure was announced in May.
Avendus said Papneja will lead the wealth business through its next phase of growth and deepen its proposition for founders, corporates and family offices.
Avendus Group co-founders Gaurav Deepak and Kaushal Aggarwal both endorsed Papneja in the announcement, and Aggarwal thanked Sahijwani for his contribution to building the wealth business.