Motilal Oswal Financial Services532892Leadership appointment or

Board approves Vishal Tulsyan as Whole-time Director; new CEOs for Alternates, Wealth Management and Private Wealth

Board meeting on Nov 03, 2026 approved leadership changes.

By ScoutQuest · Tue 3 Nov 2026, 5:02 PM IST · 4 min read

Whole-time Director Appointment: Vishal Tulsyan appointed Whole-time Director (Additional Director) for five (5) years, effective on or before January 31, 2027
Alternates MD & CEO Effective Date: Padmanabh Sinha is MD & CEO of Alternates from November 11, 2026
Resignations Effective Date: Ajay Menon and Ashish Shankar resign, effective on or before Jan 31, 2027

The Board of Directors met on Tuesday, November 03, 2026 from 02:30 p.m. to 03:37 p.m. and approved or noted a set of leadership appointments and resignations across the Alternates, Wealth Management and Private Wealth businesses. The company titled the accompanying press release "Motilal Oswal Financial Services Announces Leadership Strengthening & Transitions".

What changed, person by person

Mr. Vishal Tulsyan - appointed Whole-time Director (Additional Director) with effect from a date on or before January 31, 2027, for a term of five (5) years, subject to the approval of shareholders and other regulatory approvals. He will continue to serve as Executive Chairman of the Alternates business.
Mr. Padmanabh Sinha - appointment noted as MD & CEO of the Alternates business with effect from November 11, 2026; designated Senior Management Personnel.
Mr. Suresh Shukla - appointed CEO of the Wealth Management business with effect from November 04, 2026.
Mr. Anupam Guha and Mr. Akash Hariani - appointments noted as MD & CEOs of the Private Wealth business with effect from November 04, 2026; both designated Senior Management Personnel.
Mr. Pratik Oswal - designation noted as Chairman of the Private Wealth business; he is a Co-Promoter and Director of the company.
Mr. Ajay Menon - resignation noted as Whole-time Director and CEO of the Wealth Management business, with effect from a date on or before January 31, 2027.
Mr. Ashish Shankar - resignation noted as MD & CEO of the Private Wealth business and as Senior Management Personnel, with effect from a date on or before January 31, 2027.

Alternates business

Mr. Tulsyan, described as founder of the MO Alternates platform, led it over the last 20 years and was elevated from MD & CEO to Executive Chairman in 2024.
Mr. Sinha is described as a private equity and alternatives leader with nearly 30 years of investing and leadership experience; a former ED & CIO at National Investment and Infrastructure Funds (NIIF), described as an alternative asset manager with $ 5 billion AUM; his earlier stints include Tata Capital and Temasek, where he was responsible for ~USD 1 Bn of investments.
The company says it is appointing an MD & CEO for Motilal Oswal Alternates given its growth plans for the platform.

Retail broking and wealth management

Mr. Shukla moves up from ED & CBO of the Wealth Management business. The release cites nearly 30 years of experience, including a 25 year stint at Kotak Securities and a 3 year stint at SBI Securities, and a workforce of over 16,000 professionals across 180+ branches under his leadership.
Mr. Menon and Mr. Shankar, the release says, are moving on from their respective roles to jointly pursue their start-up journey outside the group. Their resignation letters cite the wish to explore an entrepreneurial venture outside the organisation and commit to supporting the transition.

Private wealth

The business is currently co-led by Mr. Guha and Mr. Shankar; Mr. Guha and Mr. Hariani will co-lead it going forward as MD & CEOs.
Each of them is described as having nearly 30 years of experience and as having been part of the MOFS leadership team.
Mr. Pratik Oswal, as Chairman, will work with both of them to grow the business.

Succession pipeline

The release refers to a leadership pipeline of 150 identified high-potential leaders and a focus on succession planning driving the new appointments and elevations.

What the designations mean

A Whole-time Director is a board member with executive responsibility for the company.
An MD & CEO heads a business; Senior Management Personnel is the senior-management classification used for these disclosures.

Dates to track

November 04, 2026: Mr. Shukla takes charge of Wealth Management; Mr. Guha and Mr. Hariani take charge of Private Wealth.
November 11, 2026: Mr. Sinha takes charge of the Alternates business.
On or before January 31, 2027: Mr. Tulsyan's board appointment takes effect; the resignations of Mr. Menon and Mr. Shankar take effect. This leaves a handover window between the new CEOs starting and the outgoing leaders stepping down.

In simple terms

Two senior business heads are stepping down, and the company has named successors for both roles from within, alongside a new MD & CEO for the Alternates platform and a board seat for the Alternates Executive Chairman. The company presents the changes as a planned leadership transition.

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