Home / Companies / News /  Edelweiss Wealth former CEO Nitin Jain launches financial services co Neo Group

Nitin Jain, former CEO of wealth and asset management, Edelweiss Financial Services, has launched an asset management and financial advisory platform Neo Group.

The group will have four business verticals - Neo World, Neo Asset Management, Neo Multi-Family Office and Neo Leaf, as per the official statement of the company.

Each of the verticals is led by prominent leaders in the financial services industry - Varun Bajpai, ex-president, Edelweiss Wealth & Asset Management and ex-country head - Macquarie Group is CEO of Neo World, Hemant Daga, ex-CEO, Edelweiss Asset Management has joined as CEO, Neo Asset Management, A Srikanth, ex-senior EVP and head, External Asset Managers at Edelweiss Capital and ex-CEO Motilal Oswal Wealth is CEO, Neo Multi-Family Office.

“Neo Group’s leadership team comes with a cumulative experience of over 100 years and ~$40 billion of assets under advice," the company said in its statement

“We have launched this platform with a purpose to identify and resolve the financial challenges faced by the Indian investing community by focusing on educating and empowering investors and proving them with optimal and value accretive financial tools for a secure and balanced future," said Jain, chairman and MD, Neo Group.

“India’s current household financial wealth stands at around $3 trillion and is likely to grow at 17-18% over the next decade. This is happening at a time when interest rates in India are at historic lows and the need for sophisticated and responsible financial advisory offering inflation beating, high yielding investment options is increasing. Neo Group through its multiple businesses will strive to fill that gap and provide clients with trustworthy, transparent and unbiased investment solutions," Jain added.

The company has raised around $40 million of funding from private investors and is currently administering assets of almost $1 billion.

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