Equirus Capital, an investment banking firm based in India, has forayed into the wealth management business.

The company said that its new business will serve HNWIs and the mass affluent by offering them innovative investment solutions, with active use of technology-enabled platforms.

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The new unit will be headed by Ankur Maheshwari as CEO. Maheshwari most recently led investment sales at Citibank.

Maheshwari’s 15-year long financial services career also includes stints at JP Morgan, ICICI Bank and Asian Paints.

The firm also unveiled plans to recruit additional employees in senior- to middle-level roles for the new venture. These employees will report to Maheshwari.

Equirus Capital managing director Donald D”Souza said: “Today the Indian economy is on the cusp of a unique growth story and the number of wealthy Indians is on the ascent. This makes wealth management business an inevitable opportunity for us to add to our business lines.

“I take this opportunity to welcome Ankur; his in-depth knowledge and varied experience in the wealth management space will contribute to the company’s plans on building the business and taking it to the next level of growth.”