IIFL Capital Services has hired four senior private banking professionals from Barclays as it looks to strengthen its wealth management business and expand its reach among affluent Indian families, business owners and non-resident Indians (NRIs). The appointments come amid intensifying competition among financial services firms to attract high-net-worth and ultra-high-net-worth clients.
The four executives joining IIFL Capital’s wealth management division are Neeraj Pandey, Subir Didwania, Kunal Kapadia and Vivek Makim. They will support the expansion of the company’s domestic wealth business and its Global Indian division, which focuses on managing cross-border wealth for Indian families.
Pandey will lead the Global Indian business. He spent more than seven years at Barclays, where he led a team working with high-net-worth individuals and family offices. Didwania brings two decades of experience at Barclays and most recently served as a director overseeing corporate and family office relationships.
Kapadia has previously worked with Citibank, Deutsche Bank and Edelweiss before joining Barclays, while Makim spent a decade at Barclays Private Bank India. His earlier experience includes roles at DSP Merrill Lynch and HSBC Private Bank.
The appointments build on IIFL Capital’s broader efforts to expand its wealth management operations. In June 2024, the company appointed former Citibank executives Raghav Gupta and Prakash Bulusu as joint chief executives of its wealth business, alongside Amit Srivastava as senior managing partner for investments.
The company’s wealth management and financial product distribution business has also recorded growth. According to its 2026 annual report, revenue from these activities rose 12% year-on-year to ₹572 crore, accounting for nearly 22% of its total revenue. IIFL Capital founder Nirmal Jain has also outlined plans to increase assets under management, which stood at around ₹60,000 crore at the end of the 2025–26 financial year, by 80% to 100% over the following two years.
The hiring drive comes as demand for wealth management services grows alongside the expansion of India’s affluent population. Financial services firms are competing to attract experienced relationship managers and advisers who can serve entrepreneurs, business promoters and families with increasingly diverse investment needs.
With the latest appointments, IIFL Capital is looking to deepen client relationships and expand its domestic and international wealth management capabilities. The move also highlights the importance of experienced private banking professionals as financial institutions seek to build stronger advisory businesses in India’s evolving wealth management market.
