Nuvama Group Appoints Bharat Kalsi As Their New CFO

Nuvama Group, has announced the appointment of Bharat Kalsi as its new Chief Financial Officer and Head of Strategy. This strategic move aligns with Nuvama's commitment to fortify its leadership and realize its vision of becoming a dominant customer-centric wealth management company globally.

With over 24 years of extensive experience spanning finance, tax, investments, M&A, investor relations, corporate strategy and regulatory affairs, Bharat Kalsi brings a wealth of expertise to his new role. He has worked with distinguished groups such as HCL, HSBC, Max, Tata, and the Bajaj group. In his most recent assignment, he served as the CFO and head of Product & CS functions at Bajaj Allianz Life Insurance. Bharat holds an MBA in finance, complemented by additional qualifications of CFA and CPA.

Commenting on this development, Ashish Kehair, MD & CEO, Nuvama Group said “In line with our 5-year vision of becoming the most formidable wealth management organisation, we continue to strengthen our leadership further, and we are very pleased to announce the appointment of our new group CFO, Bharat Kalsi. Bharat will play a pivotal role in the company’s financial reporting, planning & analysis, and in providing strategic direction, reinforcing Nuvama's commitment to stakeholders.

India’s structural growth journey continues to build momentum as seen with robust GDP, sustained domestic demand and stable macros. This is reflected through healthy corporate earnings of wealth management sector, exemplified by Nuvama's recent FY24 financial results, which reported a PAT of INR 597 Cr, marking a remarkable 62% YoY growth”.

Bharat Kalsi, Chief Financial Officer & Head of Strategy of Nuvama Group, said, “I am pleased to join Nuvama Group and look forward to working closely with the Board and Management towards ushering a new financial outlook for the group. I thank the Board members, Management team, Ashish Kehair, MD & CEO for welcoming me to the Nuvama Group family.”

Bharat succeeds Mihir Nanavati as the CFO. Mihir played an instrumental role in steering Nuvama Group's trajectory from demerger to successful listing and beyond.