Market Buzz: Wealth Management Giant Appoints New CEO Ahead Of Growth Phase

360 ONE WAM has approved the appointment of Aashish Agarwal, Managing Director and Country Head of Jefferies India, as its Chief Executive Officer from February 15, 2027, setting out a more defined leadership structure as the financial services group expands its wealth, asset management and capital markets businesses.

Agarwal will also be designated as key managerial personnel. From the same date, Karan Bhagat, currently Managing Director and CEO, will become Vice-Chairman and Managing Director. Bhagat will continue as Managing Director until July 26, 2030, in line with the earlier shareholder-approved term, and will be eligible for reappointment.

The change does not represent a withdrawal by the founders from operating leadership. Instead, it appears designed to separate group-wide strategy and institutional relationships from the task of scaling the operating platform. Bhagat will continue to lead group strategy, capital allocation and key client and institutional relationships, while co-founder Yatin Shah will remain focused on the wealth management business.

Agarwal brings capital markets and institutional experience that could be particularly relevant as 360 ONE seeks to integrate its wealth, asset management and capital markets offerings. He has led Jefferies’ India franchise since April 2020 and previously spent 13 years at CLSA, where he was Executive Director and Head of Research. His earlier experience includes Merrill Lynch between 2004 and 2007.

The company said the revised structure is intended to ensure sharper leadership attention across its three core businesses while presenting a unified platform to families and institutions. This is strategically important because the group has been building capabilities beyond its traditional ultra-high-net-worth wealth franchise, including alternatives, Mutual Funds, lending, brokerage, institutional equities, research and investment Banking.

The acquisition and integration of B&K Securities, now operating as part of the 360 ONE Capital platform, has added institutional broking, research and investment banking capability. Management has previously identified cross-selling between wealth clients, promoter relationships, corporate treasuries and capital markets products as an important opportunity, although the equity capital markets platform is still being built out.

The leadership appointment also comes after a period of robust financial growth. In the latest reported quarter, 360 ONE WAM’s net sales rose 34.5 per cent year-on-year to Rs 1,226.09 crore, while profit after Tax increased 16.1 per cent to Rs 330.53 crore. The slower pace of profit growth relative to revenue reflects continued investment in teams and newer businesses, a factor that makes execution on cost discipline and monetisation of new platforms important under the new structure.

In FY26, the group reported consolidated net revenue of Rs 3,144 crore, up 18.6 per cent year-on-year, while total assets under management, including custody assets, rose 16 per cent to Rs 6,74,492 crore as of March 31, 2026. Wealth management accounted for Rs 5,79,286 crore of those assets, underlining why Shah’s continued focus on the core franchise remains central to the group’s growth plans.

Bhagat said the new structure would allow each business to be led with sharper focus while operating as one group. Agarwal said increasingly sophisticated clients and family offices require services spanning investments, capital raising and strategic advice, making an integrated model more relevant.

As of 3:38 pm on September 22, 2026, 360 ONE WAM shares were trading at Rs 1,072, down 0.28 per cent from the previous close. The stock was about 11.3 per cent below its 52-week high of Rs 1,208, though its one-year decline of 0.26 per cent compared favourably with the BSE 500’s 3.73 per cent fall over the same period.

Disclaimer: The article is for informational purposes only and not investment advice.