Finance industry veteran Nitin Jain launches Asset Management and Financial Advisory Company – Neo Group
MUMBAI, India , May 6, 2022 /PRNewswire/ — Nitin Jain, former Wealth and Asset Management CEO at Edelweiss Financial Services, embarks on his entrepreneurial journey with the launch of Neo Group, a new age asset management and financial advisory platform. The group will focus on four businesses- Neo World, Neo Asset Management, Neo Multi Family Office and Neo Leaf. Nitin has roped in a stellar team of industry experts to lead each of Neo Group’s business verticals:
- Varun Bajpai, Ex-President – Edelweiss Wealth & Asset Management and Ex Country Head – Macquarie Group joins as CEO of Neo World
- Hemant Daga, Ex- CEO Edelweiss Asset Management joins as CEO of Neo Asset Management
- A Srikanth, Ex- Senior EVP and Head – External Asset Managers at Edelweiss Capital and Ex CEO Motilal Oswal Wealth joins as CEO of Neo Multi Family Office
Nitin, during his illustrious career has been instrumental in building and scaling multiple businesses at Edelweiss Financial Services, unlocking tremendous value for investors and shareholders. Under his leadership, Edelweiss Wealth Management grew to become one of the largest wealth management businesses in India with assets of more than INR 2,00,000 crores under advice.
Neo Group’s leadership team comes with a cumulative experience of over 100 years and ~$40 billion of assets under advice.
The company’s strategy is to provide opportunities that can sustainably and responsibly grow investor income, empowering them to pursue their dreams. The Group’s underlying goal is to assist in India’s glorious aspiration of self- reliance and egalitarian prosperity and as a responsible corporate citizen, Neo Group is committed to doing good, with simplicity of service and purity of purpose.
Nitin Jain, Chairman and MD, Neo Group said, “We have launched this platform with a purpose to identify and resolve the financial challenges faced by the Indian investing community by focusing on educating and empowering investors and proving them with optimal and value accretive financial tools for a secure and balanced future.”
“India’s current household financial wealth stands at around $ 3 trillion and is likely to grow at 17-18% over the next decade. This is happening at a time when interest rates in India are at historic lows and the need for sophisticated and responsible financial advisory offering inflation beating, high yielding investment options is increasing. Neo Group through its multiple businesses will strive to fill that gap and provide clients with trustworthy, transparent and unbiased investment solutions”, he added.
The company has raised ~$40 million of funding from private investors and is currently administering assets of almost $1 billion.
About Neo Group
Neo Group is a new-age asset management and financial advisory platform that aims to provide trustworthy, transparent, and unbiased financial solutions to its clients. Set up by Nitin Jain (former CEO, Wealth and Asset Management at Edelweiss Financial Services), Neo Group aims to educate, enhance, and empower investors with optimal and value accretive financial tools for a secure and balanced future.
Neo Group’s asset management, multifamily office, and retail business seek to serve both institutional and retail customers across India, through global best-in-class governance standards, innovative technology-driven services, and a highly accomplished team with deep domain expertise in all its operations.
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