Mumbai-based Sanctum Wealth Management has recruited an executive from Axis Bank, the country's third-largest private lender.
Sarita Kamat joined as executive director, relationship management in September. She reports to Puneet Periwal, a market head who oversees the western region.
Kamat brings more than 25 years of experience in wealth management, mutual fund distribution, and advisory for corporate treasuries, UHNW individuals and family offices. She was most recently Axis Bank's senior vice president and head of its investment solutions group.
'We are confident that her knowledge and experience will help us in significantly expanding our client network and improving our client proposition,' Sanctum CEO Shiv Gupta told Citywire Asia.
Sanctum, which oversees about $1 billion in assets, was created in 2016 from a management buyout of Royal Bank of Scotland’s private banking business in India.
In August, it appointed Yogesh Sodhani as market head to oversee the development and growth of India's southern region. Sodhani is based in Bengaluru.