Mumbai, November 12, 2026: Motilal Oswal Financial Services Limited (MOFSL) has elevated Akash Hariani to Managing Director and Chief Executive Officer (MD & CEO) of Motilal Oswal Private Wealth, strengthening the leadership structure of one of the group's key financial services businesses.
Hariani will jointly lead the private wealth management business alongside Anupam Guha, who continues as MD & CEO. In a parallel leadership development, Pratik Oswal, Co-Promoter and Board Member of MOFSL, has been designated Chairman of Motilal Oswal Private Wealth.
The appointments, effective November 4, 2026, were disclosed in the company's November 3 regulatory filing with the National Stock Exchange.
The leadership changes are significant for a business that has expanded its assets under management (AUM) to ₹2,96,222 crore as of September 30, 2026, representing approximately 58% year-on-year growth.
Beyond the appointments, the development raises an important question for India's wealth management industry: How will Motilal Oswal Private Wealth translate its growing client asset base into higher recurring income, stronger advisory relationships and sustainable profitability?
Akash Hariani and Anupam Guha to Jointly Lead Private Wealth Business
Under the revised leadership arrangement, Akash Hariani and Anupam Guha will share responsibility for leading the Private Wealth business into its next phase of expansion.
Both executives have nearly three decades of experience in financial services, with extensive exposure to investment advisory, wealth management, ultra-high-net-worth individuals (UHNIs) and family office relationships.
Importantly, Hariani's appointment is an internal elevation rather than a fresh external leadership hire. He was already serving as Joint Managing Director of Motilal Oswal Private Wealth before assuming the expanded MD & CEO designation.
Guha, meanwhile, provides continuity to the business, having already held the MD & CEO position and played a central role in the franchise's growth.
The company has also designated both leaders as Senior Management Personnel (SMP), as recorded in its exchange disclosure under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations.
The move establishes a joint leadership structure for the private wealth business at a time when financial institutions are increasingly focusing on specialised investment advisory, relationship-led services and integrated wealth solutions.
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Who Is Akash Hariani? A Career Built Around UHNI and Family Office Advisory
Akash Hariani brings extensive experience managing investment relationships with wealthy individuals, business families and family offices.
Before joining Motilal Oswal Private Wealth in 2024, Hariani spent approximately 21 years with Kotak Mahindra Bank, where he helped develop wealth management solutions for ultra-high-net-worth clients.
His professional journey also includes a leadership role as Executive Director at Avendus Wealth Management's Multi-Family Office, alongside earlier experience at TCFC Securities.
His career spans several important dimensions of private wealth management, including personalised investment strategies, long-term relationship development, family wealth advisory and business expansion.
According to his official leadership profile at Motilal Oswal Private Wealth, Hariani has contributed to the group's strategy for strengthening its presence among UHNI families and expanding its wealth advisory capabilities.
His elevation to MD & CEO gives him a broader leadership mandate within a business he has already helped scale.
For Motilal Oswal, retaining and elevating an experienced executive familiar with the franchise may offer an advantage in maintaining client relationships and execution continuity during the transition.
Anupam Guha's Continued Leadership Brings Experience and Stability
While Hariani assumes the expanded role, Anupam Guha will continue as MD & CEO, providing operational continuity to the private wealth business.
Guha has more than 25 years of experience in wealth management and financial services. Before joining Motilal Oswal, he spent approximately 24 years with the ICICI Group, including significant leadership responsibilities at ICICI Securities and ICICI Bank.
At ICICI Securities, his responsibilities included Private Wealth Management, Assets, NRI Services and the Equity Relationship Group. He also led investment advisory and portfolio management services.
His experience across product development, advisory platforms, distribution and relationship management complements Hariani's background in serving UHNI and family office clients.
The combined leadership model brings together two executives with substantial experience in managing sophisticated investment requirements and scaling wealth management operations.
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Pratik Oswal Named Chairman: What His New Role Means
Another important component of the restructuring is the appointment of Pratik Oswal as Chairman of the Private Wealth business.
Pratik, a Co-Promoter and Non-Executive Director of MOFSL, brings experience across asset management, financial products, investment banking and capital markets.
He has been closely associated with the Passive and Quant Funds business at Motilal Oswal Asset Management Company, where he contributed to developing the group's exchange-traded fund (ETF) and index fund offerings.
His professional background also includes exposure to private equity, hedge funds and financial technology.
According to the company's official leadership information, Pratik holds a degree in Mathematics and Economics from Emory University and an MBA from London Business School.
In his new capacity, he will work closely with Guha and Hariani to strengthen the Private Wealth franchise.
The appointment could help connect private wealth strategy more closely with the group's wider investment capabilities, particularly in product development, asset management and capital market solutions.
A distinction worth noting: Pratik Oswal has been designated Chairman of the Private Wealth business, not Chairman of the listed parent company, Motilal Oswal Financial Services Limited.
The ₹2.96 Lakh Crore Business Behind the Leadership Restructuring
The timing of the leadership transition becomes more meaningful when viewed against the company's latest financial performance.
According to MOFSL's Q2 and H1 FY27 investor presentation, released on October 29, 2026, the Private Wealth Management business has recorded substantial growth in client assets.
Motilal Oswal Private Wealth: Key Financial Indicators
| Financial indicator | Latest reported performance |
|---|---|
| Assets under management, September 2026 | ₹2,96,222 crore |
| Assets under management, September 2025 | ₹1,87,929 crore |
| Year-on-year AUM growth | 58% |
| Relationship managers | 443, up 15% YoY |
| Private wealth lending book | ₹7,333 crore, up 90% YoY |
| Q2 FY27 profit after tax | ₹112 crore |
| Q2 FY26 profit after tax | ₹110 crore |
| Q2 FY27 net revenue | ₹316 crore |
Source: Motilal Oswal Financial Services, Q2 FY27 earnings release and investor presentation. Figures relate specifically to Private Wealth Management unless otherwise indicated.
What Comes Next? Four Areas to Watch
Although Motilal Oswal has not announced separate performance targets specifically for Hariani and Guha, the group's latest investor presentation identifies several business priorities.
1. Greater focus on recurring revenue
The company has emphasised growing annual recurring revenue across its financial services businesses. For Private Wealth, increasing the proportion of predictable advisory and management income could help reduce reliance on transaction-driven earnings.
2. Expanding family office capabilities
Demand for integrated wealth management solutions creates opportunities to deepen relationships with UHNI clients and business families. These relationships can extend across multiple generations and involve complex investment requirements.
3. Increasing relationship manager productivity
With a larger team and growing client assets, relationship manager productivity is an important measure of operating efficiency. Stronger research support, technology and client engagement could help improve the economics of the advisory franchise.
4. Geographic expansion and digital engagement
The company has identified expansion into Tier-2 locations as an area of focus. It has also highlighted the launch of a Motilal Oswal Private Wealth application to support digital client engagement.
Together, these priorities suggest that the next phase of growth will involve not just bringing in more assets, but building a scalable wealth management platform capable of supporting increasingly complex client needs.
A Broader Succession Strategy Across Motilal Oswal Financial Services
The latest appointments also reflect the group's approach to identifying and developing senior leadership talent.
In its official announcement, MOFSL said it has identified approximately 150 high-potential leaders as part of its leadership pipeline.
The company described internal talent development and succession planning as important elements of its long-term institutional strategy.
Commenting on the transitions, Motilal Oswal, Co-Founder of MOFSL, said:
"We are known and recognised as a Leadership Factory in the industry."
The group's decision to elevate existing executives across several businesses suggests a preference for combining leadership continuity with experienced management talent.
For the Private Wealth business, this approach allows the company to retain two executives who already understand its client base, product platform and organisational priorities.