Reliance Wealth Management, a subsidiary of Reliance Capital, today announced the appointment of Nitin Rao as its new chief executive officer.
In this newly created role, Rao will report to Anmol Ambani, Executive Director at Reliance Capital, and will be responsible for driving a more broad-based strategy for growing the wealth management offering to HNIs.
Rao joins Reliance Wealth Management after 19 years at HDFC Bank, where he was Executive Vice President – Private Banking Group & Third Party Products. He has been instrumental in building the wealth management business of HDFC Bank.
Announcing Rao’s appointment, Anmol Ambani said, "I am delighted to welcome Nitin as the CEO of our Wealth Management business. The business has delivered strong performance in recent years focusing on Ultra HNIs, with Assets Under Management (AUMs) increasing to Rs.7,000 crore. Having built a credible open architecture platform, under Nitin’s guidance, this business will target all segments of the customer wallet and look to build substantial market share going forward.”
Rao has had a multidisciplinary career of 28 years across equity research, product management, distribution of investment products and managing high net worth banking programmes. He is an engineer from the College of Engineering, Pune and holds a Post Graduate degree in Management from Symbiosis Institute of Business Management.
