VMP New Delhi [India], June 1: Leading financial services house IIFL Securities today announced three senior management appointments to boost its wealth management platform/equity broking business. IIFL Securities currently manages $23 billion worth of AUM (approximately Rs 1.9 lakh crore). It has appointed private bankers Raghav Gupta and Prakash Bulusu as joint CEOs to manage and grow its HNI and UHNI wealth business and Amit Srivastava as senior managing partner to run investments and products for the firm. Raghav Gupta and Prakash Bulusu were the first senior managing partners. AS Asset & Wealth Management (majority owned by Blackstone, the world's largest private equity fund), manages North, South, East businesses in India and offshore markets.Amit Srivastava was leading the managed equity products platform, asset allocation and portfolio analytics desk. He was also involved in managing investments for key UHNI client relationships across India. All three have helped build the wealth practice for ASK Asset & Wealth Management and have been instrumental in taking it to great heights in eight years. The business grew 6 times in 8 years with over 50% contribution to the overall firm. They joined ASK with significant equity ownership and subsequently global private equity players such as Advent A Blackstone invested in ASK.All three have worked in the financial services industry for over 25 years and have been working together in the wealth management space for over two decades (at Citi and ASK). Commenting on their appointment in a joint statement, Raghav, Prakash and Ami said, “We at IIFL Securities are thrilled to join hands with the pioneers of the Indian financial services industry, Nirmal Jain and R Venkatraman. We are also thrilled to be a part of Excited." Leveraging the transformational journey and institutional equities expertise of the firm's Managing Director Nemkumar, "Our endeavor will be to grow and build the brand 'IIFL Securities' into India's leading Wealth, Asset Management and Equities franchise. Under Nemkumar's leadership, IIFL Securities ’s strong Investments banking and research-focused institutional equities platform combined with our prior experience provides us with a great opportunity to utilize the synergy in building a client-centric platform and bringing a holistic wealth management experience to clients.Commenting on the appointment, R Venkataraman, co-promoter of IIFL Group and chairman of IIFL Securities, said, “I welcome Raghav, Prakash and Amit to the IIF family. With the addition of these three experienced and accomplished private bankers, The mandate has been fulfilled." Now IIFL Securities has to transform and take it to the next level." The wealth and asset management industry in India is rapidly evolving. As more and more promoters, entrepreneurs and CXOs are earning money, advising clients There is a shortage of quality talent needed to deliver and help them manage their investments.Therefore, it is not surprising that the growth prospects of this industry have seen considerable interest from top global private equity players such as Blackstone, KKR, Bain, General Atlantic, PAG, etc.