Avendus Wealth CIO Saurabh Rungta to Depart, Following Second High-Profile Exit This Month

Avendus Wealth Management Sees Second High-Profile Exit as Managing Director Departs

Avendus Wealth Management, a key division of the broader Avendus group, is facing another high-profile exit as managing director and chief investment officer Saurabh Rungta prepares to leave the company. According to sources, Rungta is set to depart Avendus to pursue other opportunities, marking the second significant exit at the private wealth platform this month.

Rungta's departure comes shortly after the parent company, Avendus Capital, sealed a deal with Japanese investment bank Mizuho Securities in December. With over two decades of experience, Rungta has held leadership positions in various wealth management outfits, including Nuvama Private Wealth, Kotak Wealth, and IIFL Wealth. He joined Avendus in 2023.

Avendus is currently considering external candidates to replace Rungta, with the process expected to take at least two months to finalize. In the meantime, co-founder Kaushal Aggarwal will handle CIO duties as a stop-gap arrangement.

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Avendus Wealth Management oversees approximately $9 billion in assets, according to its website. For FY25, the division posted a profit after tax of Rs 63.77 crore, up from Rs 8.26 crore in the previous year, with a revenue of about Rs 300 crore, a near two-fold jump from FY24.

Rungta's exit is the second major departure at Avendus' senior leadership team since the signing of the Mizuho Securities deal. Earlier this month, Rohit Suri, managing director and co-head of the investment banking business responsible for North India, left the company to join Ionic Wealth, the wealth management arm of Angel One, as the chief executive officer of the UHNI business.

Avendus, a leading unlisted investment banker, offers solutions across institutional equities, wealth management, asset management, credit management, and more. Founded in 1999 by Ranu Vohra, Gaurav Deepak, and Kaushal Aggarwal, the company's shareholding structure recently underwent a significant change. Majority shareholder KKR sold its stake to Mizuho Securities in December 2025, alongside other shareholders, including co-founder Vohra.

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