TAKING SHOT AT THE TOP. Motilal Oswal Private Wealth eyes entry into top 3 league in next 5-10 years, says MD & CEO Shanker

Motilal Oswal Private Wealth (MOPW) is eyeing entry into the top three industry league in private wealth management space in next 5-10 years, its Managing Director & CEO Ashish Shanker has said. 

This private wealth management firm, which currently manages assets of about ₹40,000 crore, is aiming at ₹1 -lakh crore business volume level by 2026-27, Shanker told businessline in an interaction. 

To get into the top three league — MOPW is currently in the top ten rankings — in private wealth management space, MOPW is also open to acquisitions, he said. “We are open to it (inorganic route). But I believe that along with strategy, you need execution excellence. So, there is no conscious strategy for acquisitions at the moment but if something comes up, we are open to it,” Shanker added. 

Ramping up headcount

MOPW is also looking to ramp up its wealth managers headcount from current 155 to 250 people in next 12-18 months. Plans are afoot to even expand geographically — especially in Tier 2 cities — so as to take footprint from current 14 cities to 22 cities by this fiscal-end. 

“There are lot of Tier 2 towns where wealth is growing rapidly where we would like to be present early. I mean cities like Vizag, Mysore, Coimbatore and in the West, cities like Ahmedabad, Surat and Rajkot. Similarity in UP, there is lot of wealth creation happening in Kanpur, Lucknow and Agra. We are also looking at geographical expansion in Ludhiana and Chandigarh in North,” Shanker added. 

Over the last decade — since it began in 2012 to scale up its private wealth management business, MOPW has grown its assets 25X from ₹14-15 crore to about ₹40,000 crore now. “We have grown much faster than industry and we have also grown from a smaller base. From here on, we will be more aligned to industry growth,” he said. 

Besides ramping up wealth managers headcount, the firm is also looking to expand its product portfolio to meet the needs of ultra HNI clients. It plans to roll out a Category III Alternative Investment Fund (AIF) product by December or January next year. 

NO LISTING PLANS

Shanker ruled out any immediate plans to list the business in bourses. “We are already part of a listed company, in that sense, we are already liquid at Group level and there is no plan to list the wealth management business separately,” he added.

Shanker also highlighted that Indian pure play private wealth management players are growing at faster clip than foreign banks or even domestic banks in this space. 

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