Tag: Mr. Dinesh Thakkar

Business

Angel One joins hands with Seasoned team of Wealth Managers to lead its Tech-Led Omnichannel Wealth Management Business

Mar 5, 2024 by Mansi Praharaj 0 Comments #Angel One, #digital disruption, #Mr. Dinesh Thakkar, #Wealth Management Business

Mumbai, 5th March 2024: A group of seasoned wealth managers, collaborate with Angel One, one of India’s leading fintech players, as Co-Founders to lead its private wealth management foray. Srikanth Subramanian joins as Co-Founder & CEO of Angel One Wealth Limited; he comes with more than twenty years of experience in investment and wealth management business. He joins from Kotak Cherry, the digital wealth management arm run by Kotak Mahindra Bank. Other Co-Founders include Shobhit Mathur and Dharmendra Jain. Shobhit will lead the Wealth-Tech and Customer Excellence teams and Dharmendra will bring his strategic expertise in investment solutions and products. The new business leaders will collaborate with Angel One in tapping opportunities in the wealth management space, catering to the growing needs of emerging HNIs and Ultra HNIs.

ANGEL ONE ,Srikant

Mr. Dinesh Thakkar, Chairman and Managing Director, Angel One Limited, said, “The wealth management business has witnessed significant growth over the last decade with rising affluents in our country. We believe this space is ripe for a digital disruption. With the addition of such accomplished leaders to our team, we aim to not only accelerate this growth but also enhance our presence in the full-stack financial services space. The expertise of Srikanth and his team aligns seamlessly with this vision of ours. As we navigate the dynamic financial landscape, their strategic contributions will be pivotal in propelling Angel One to new heights.”

Mr. Srikanth Subramanian, Co-Founder & CEO, Angel One Wealth Limited said, “I am thrilled to be a part of the Angel One Group and build a tech-led omnichannel wealth management business. The innovative digital approach and established market position perfectly complements our goal of providing comprehensive financial solutions that cater to the evolving landscape of India. We are primed to democratize access to wealth management.”

Angel One Wealth Limited has an experienced founding team comprising seasoned wealth managers and domain experts in technology, advisory and client engagement. Leveraging our expertise in technology, our platform aims to enhance decision-making on investments. With each of the co-founders having a domain expertise of about two decades and a strong foundation in technology, having built a platform catering to millions of users, the company aims to grow in the WealthTech space.

Business

Growth Momentum Continues for Angel One Limited

Oct 22, 2021 by Rekha Nair 0 Comments #Chairman & MD, #Chief Executive Officer, #Mr. Dinesh Thakkar, #Mr. Narayan Gangadhar

Mumbai: Angel One Limited announced its unaudited consolidated financial results for the quarter and half year ended on 30th September 2021.

Client Additions

The company witnessed strong gross addition in client base by 1.3 mn clients in Q2FY22 as compared to 1.2 mn clients in Q1FY22

Total Income

₹ 5,382 mn in Q2FY22 vs ₹ 4,745 mn in Q1FY22, a growth of 13.4% QoQ basis Income growth was aided by strong client addition

EBDAT

₹ 1,839 mn in Q2FY22 vs ₹ 1,663 mn in Q1FY22, a growth of 10.6% QoQ basis EBDAT Margin (as % of Net Income) remained stable at 47.4%

Profit After Tax from continuing operations

₹ 1,343 mn in Q2FY22 vs ₹ 1,214 mn in Q1FY22, a growth of 10.6% QoQ basis

Dividend

The Board of Directors have recommended second interim dividend of Rs. 5.70/- per equity share of Rs. 10/- each, i.e. ~35% of consolidated profit after tax, for the quarter

Mr. Dinesh Thakkar, Chairman & MD said, “Angel is amongst the fore-runners and has played a significant role in diversifying India’s equity culture, as we continue to witness strong addition. Our robust digital platforms are well accepted by the Gen Z and millennials. We continue to augment our technology and products by upskilling our artificial intelligence, machine learning and data science capabilities, to provide clients with seamless and best in class experience.

During the quarter, we on boarded some of the best talent in technology and product development, as Jyotiswarup Raiturkar, joined us as Chief Technology Officer along with other senior and mid level executives at our product development center in Bengaluru. This will help us to develop planet scale products and solutions, while keeping simplicity, reliability, and efficiency at our core. We submitted our application with SEBI, for an in principal approval to set up our AMC. This will be one of the key levers for us, as we progress towards offering wealth-tech solutions.

The effervescence and freshness of our Angel One brand and its endorsement by our target client base has been further riveted with ‘Angel Broking Limited’ being rechristened as ‘Angel One Limited’. The Board of Directors have approved distribution of 35% of Q2 FY2022 consolidated profit as 2nd interim dividend.”

Narayan Gangadhar, CEO, Angel One
Narayan Gangadhar, CEO, Angel One

Mr. Narayan Gangadhar, Chief Executive Officer said, “For the 2nd consecutive quarter, we acquired more than 1.2mn clients which demonstrates our robust processes, strong performance marketing, backed by our efficacious technology & product suite. With this, our total client base expanded to 6.5 mn clients. Growing client base, and a corresponding increase in active client base, led to continued improvement in our operating and financial metrics.

We have expanded our product and technology talent base. Our focus will be on modernizing systems, leveraging cloud capabilities, enhancing product reliability, security and attaining shorter time to market, while also using advanced artificial intelligence, machine learning and data science techniques to build our next-gen Super-App with personalized journeys.

In our pursuit to democratize stock broking and attain leadership position, we are constantly improving our products and adding newer features and services. We are well placed to capitalise on the massive growth opportunity that is unfolding for Fintech players like us.”