Capital firm Equirus said it is in the process of hiring senior and mid-level executives to expand its wealth management business.

Ankur Maheshwari was Citibank’s national head of investment sales for the global consumer banking segment. Previously, his stints were with top-notch companies such as JPMorgan, ICICI Bank and Asian Paints.

Equirus Capital managing director Donald D’Souza said the investment bank is encourage to set-up a wealth management division owing to the increase in wealthy citizens backed by a promising economy.

In the last one year, Equirus has appointed senior-level management in an effort to introduce leadership change in the company. Chief Operating Officer at Matrix Partners-backed orthopaedic hospital chain Mewar Hospitals Saurabh Pandey was appointed director healthcare last July.

The company was founded in 2007 and has managed transactions worth over US$4bn across sectors including mergers and acquisitions, private equity, initial public offerings, institutional placement, and structured financing.