Prime Securities Ltd (PSL), a SEBI-registered Category-I Merchant Banker, announced its entry into the wealth management space through its wholly-owned subsidiary, Prime Trigen Wealth Ltd. (PTWL). This strategic move aims to expand PSL’s financial services reach, focusing on High Net Worth Individuals (HNI), Ultra HNI, and Family Offices across India.
Prime Trigen Wealth Ltd. has appointed industry veterans Sailesh Balachandran and Maneesh Kapoor as Executive Directors, Founders, and Joint CEOs. Both have over 24 years of experience in the Banking and Financial Services industry, having held leadership positions at ICICI Securities Private Wealth, LGT Wealth, and HSBC.
Initially, PTWL will operate in NCR, Mumbai, Bangalore, and Chennai, with plans to expand to other Tier 1 and Tier 2 cities.
In a joint statement, Maneesh and Sailesh expressed their enthusiasm, stating, “We look forward to building a high-tech enabled, RM-led wealth management service for India’s growing HNI and Ultra HNI segments. The synergy with Prime’s investment banking will allow us to offer unique solutions to our clients.”
Akshay Gupta, Director of Prime Securities, added, “This foray into wealth management complements our investment banking services, creating additional value for Prime Group’s shareholders.”
Prime Securities Ltd., known for its extensive experience in investment banking, is positioning itself to cater to the wealth management needs of the rapidly expanding affluent population in India.
