Latest news with #ManuAwasthy
Time of India
a day ago
- Business
- Time of India
Wealthtech startup Centricity onboards 30 private bankers to boost UHNI push
Gurugram-based wealthtech startup Centricity has hired 30 senior private bankers to scale its ultra-high-net-worth individual (UHNI) vertical as it looks to expand beyond metros and strengthen its presence in smaller bankers, who have previously worked with institutions such as UBS, Barclays, Kotak, and ICICI Securities, will operate under Centricity's Invictus platform, catering to UHNIs and single-family offices. They will manage over 135 clients with portfolios above Rs 100 crore each, while in tier II and III cities, the minimum requirement is Rs 50 firm also plans to double its private banking team by the end of the current fiscal year. While its existing team covers Maharashtra, Gujarat, Goa, Karnataka, and Punjab, the new hires will focus on Delhi-NCR, Rajasthan, Uttar Pradesh, West Bengal, Chhattisgarh, Andhra Pradesh, and by Manu Awasthy, Centricity operates two platforms. The 'Centricity platform' serves financial product distributors (FPDs) by providing access to products from over 100 asset management companies (AMCs) and a mix of digital tools and human support. Its Invictus vertical offers personalised investment management, including portfolio analytics, reporting, and insights for UHNIs and single-family Centricity manages assets of more than Rs 10,000 crore and raised $20 million in a funding round led by Lightspeed India Partners in September 2024 at a valuation of $125 million. The startup currently operates 80 branches across 70 cities.'We are optimistic that Invictus will contribute approximately 50% to our overall business by FY26 and our target of Rs 50,000 crore in AUM growth in the next three years,' said Awasthy, founder and CEO of development comes as India's wealth management sector faces intensified competition in the UHNI space, with incumbent firms competing with new-age startups like Centricity that combine technology with experienced bankers to tap the expanding affluent base.'The company offers a differentiated approach that combines technology, deep advisory expertise, and a strong distribution network to deliver outcomes. Specifically, through Invictus, the newly added private bankers with an average of over 20 years of experience in their respective geographies will offer distinctive client understanding and local insights,' said Shvetank Mishra, chief business officer, Invictus.
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Business Standard
a day ago
- Business
- Business Standard
Centricity WealthTech plans to double AUM to ₹20,000 crore by FY26
Wealth management company Centricity WealthTech plans to double its AUM to Rs 20,000 crore by March 2026 and has hired 30 senior private bankers to cater to the needs of High Networth Individuals (HNIs) and Ultra HNIs, to achieve the target. The asset under management (AUM) reached Rs 10,000 crore last month and the company is hoping to increase this to Rs 18,000-20,000 crore by the end of the current fiscal, Centricity WealthTech CEO Manu Awasthy told PTI. So, he said, effectively, the AUM should double in eight months and various initiatives would be taken to achieve this target. As part of the expansion strategy, the company has onboarded 30 senior private bankers to deepen presence across India's top 70 cities. This marks a significant step in Centricity WealthTech's vision to democratize accessibility of best-in-class financial advice beyond the traditional metros, backed by its proprietary technology and growing physical footprint, he said. The newly onboarded senior private bankers will operate under the company's marquee platform 'INVICTUS' that caters specifically to Ultra HNIs and single- family offices (SFOs) managing over 135 clients with portfolios above Rs 100 crore each, he said. With its unique positioning, the company aims to strengthen boutique wealth management practices through the onboarding of full-time region-focused private bankers, he said.
Time of India
a day ago
- Business
- Time of India
Centricity WealthTech aims to double AUM to Rs 20,000 cr by FY26, hires 30 senior pvt bankers
Wealth management company Centricity WealthTech plans to double its AUM to Rs 20,000 crore by March 2026 and has hired 30 senior private bankers to cater to the needs of High Networth Individuals (HNIs) and Ultra HNIs , to achieve the target. The asset under management (AUM) reached Rs 10,000 crore last month and the company is hoping to increase this to Rs 18,000-20,000 crore by the end of the current fiscal, Centricity WealthTech CEO Manu Awasthy told PTI. So, he said, effectively, the AUM should double in eight months and various initiatives would be taken to achieve this target. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Elegant New Scooters For Seniors In 2024: The Prices May Surprise You Mobility Scooter | Search Ads Learn More As part of the expansion strategy, the company has onboarded 30 senior private bankers to deepen presence across India's top 70 cities. This marks a significant step in Centricity WealthTech's vision to democratize accessibility of best-in-class financial advice beyond the traditional metros, backed by its proprietary technology and growing physical footprint, he said. Live Events The newly onboarded senior private bankers will operate under the company's marquee platform 'INVICTUS' that caters specifically to Ultra HNIs and single- family offices (SFOs) managing over 135 clients with portfolios above Rs 100 crore each, he said. With its unique positioning, the company aims to strengthen boutique wealth management practices through the onboarding of full-time region-focused private bankers, he said.
