Aashish Agarwal, one of India’s senior investment bankers, is set to join 360 ONE WAM Group as its new Chief Executive Officer (CEO), marking a major leadership change at the wealth management company.
Agarwal, currently Managing Director and Country Head of Jefferies India, will take charge at 360 ONE from February 15, 2027. The appointment was approved by the company’s board on September 22.
His move comes as 360 ONE WAM brings greater focus to its three main businesses — wealth management, asset management and capital markets. The company wants these businesses to work more closely while giving each one a clearer role.
Agarwal has spent more than two decades in India’s financial services industry. He joined Jefferies in 2020 and has led its India operations for more than six years. During this period, he oversaw the investment bank’s business across the country.
Before Jefferies, Agarwal spent around 13 years with CLSA, where he rose to become Executive Director and Head of Research. He began his career with Merrill Lynch in 2004.
He is a Chartered Accountant and has completed his postgraduate studies at SPJIMR, Mumbai.
The leadership change will also bring a new role for Karan Bhagat, the current Managing Director and CEO of 360 ONE WAM. From February 15, 2027, Bhagat will become Vice-Chairman and Managing Director.
Bhagat will continue as Managing Director until July 2030. In his new role, he will focus on the group’s strategy, capital allocation and important client and institutional relationships.
Yatin Shah, co-founder of 360 ONE, will continue to head the wealth management business.
The company said the new structure will help its three businesses operate with greater focus while still benefiting from being part of the same group.
The move comes at a time when India’s wealth management industry is expanding rapidly. More high-net-worth individuals, ultra-high-net-worth families and family offices are looking for services that go beyond traditional investment advice.
They are increasingly seeking help with investments, asset management, capital raising and other financial decisions. 360 ONE is positioning itself to meet this wider demand through its combined platform.
The company manages more than $82 billion in assets and serves thousands of high-net-worth and ultra-high-net-worth families and corporates.
Agarwal said India’s wealth creation story was still at an early stage and that the financial needs of wealthy families were becoming more complex. He said 360 ONE’s combination of wealth management, asset management and capital markets would provide an opportunity to serve these needs more closely.
The appointment also had an impact on the company’s stock. 360 ONE WAM shares rose more than 2% on September 23, with the stock gaining around 4% at one point after the leadership announcement.
Agarwal’s exit has also led to changes at Jefferies India. Ashish Jhaveri, head of investment banking, and Mahesh Nandurkar, head of research, have been elevated as co-country heads of the investment bank’s India operations.
For 360 ONE, the transition is aimed at giving its businesses greater clarity while bringing them closer together at the group level.
Agarwal will take over as CEO next year, while Bhagat and Shah will continue to play key roles in strategy and wealth management. The leadership change is expected to shape the company’s next phase as India’s wealth management market continues to grow.