MOMotilal Oswal Financial Services532892Leadership appointment or

Leadership transitions: Whole-time Director inducted, new CEOs named, two senior business heads resign

Leadership transitions: Vishal Tulsyan joins the board as Whole-time Director; Padmanabh Sinha is MD & CEO of Alternates.

By ScoutQuest · Tue 3 Nov 2026, 5:09 PM IST · 3 min read

Wealth Mgmt & Private Wealth CEO Appointment Effective

November 04, 2026

Alternates MD & CEO Appointment Effective

November 11, 2026

Resignations Effective

on or before January 31, 2027

What was announced

The board of directors met on November 03, 2026 and approved or noted a set of leadership changes across three businesses — Alternates, Wealth Management and Private Wealth. The dates are staggered: the new appointments take effect on November 04, 2026 and November 11, 2026, while the two resignations take effect on a date on or before January 31, 2027.

Alternates business

• Mr. Vishal Tulsyan has been approved as an Additional Director in the capacity of Whole-time Director, with effect from a date on or before January 31, 2027, for a term of five (5) years. The appointment is subject to the approval of the shareholders and such other regulatory approvals as may be required. He will continue to serve as Executive Chairman of the Alternates business.
• Mr. Padmanabh Sinha joins as Managing Director & Chief Executive Officer of the Alternates business with effect from November 11, 2026, and will be designated Senior Management Personnel.
• The company describes Mr. Tulsyan as the founder of the MO Alternates platform, who led it for the last 20 years before being elevated to Executive Chairman in 2024.
• Mr. Sinha is described as a former ED & CIO at the National Investment and Infrastructure Fund (NIIF), India's sovereign-linked alternative asset manager with $ 5 billion AUM, and as having earlier worked with Tata Capital and Temasek, where he was responsible for ~USD 1 Bn of investments. He brings nearly 30 years of investing and leadership experience.

Wealth Management

• Mr. Suresh Shukla has been appointed Chief Executive Officer of the Wealth Management business with effect from November 04, 2026.
• Mr. Ajay Menon has resigned as Whole-time Director of the company and Chief Executive Officer of the Wealth Management business, effective on or before January 31, 2027. His resignation letter states he wishes to explore an entrepreneurial venture outside the organisation.
• The company notes that Mr. Shukla was earlier ED & CBO of the Wealth Management business and brings nearly 30 years of professional expertise across retail broking, digital transformation, sales and distribution.

Private Wealth

• Mr. Pratik Oswal, Co-Promoter and Director of the company, has been designated Chairman of the Private Wealth business.
• Mr. Anupam Guha and Mr. Akash Hariani have been appointed Managing Directors & CEOs of the Private Wealth business with effect from November 04, 2026, and both will be designated Senior Management Personnel. The company says each has nearly 30 years of experience and both have been part of the MOFS leadership team.
• Mr. Ashish Shankar has resigned as MD & CEO of the Private Wealth business and as Senior Management Personnel, effective on or before January 31, 2027, to explore an entrepreneurial venture outside the organisation.

In the company's words

• Co-Founder Mr. Motilal Oswal thanked the departing leaders for their contribution, welcomed Mr. Padmanabh Sinha, and congratulated the internal leaders on their elevation.
• The company describes itself as a leadership factory and points to a leadership pipeline of 150 identified high-potential leaders at the MOFS Group, with a focus on succession planning driving the new appointments and elevations.

What a retail investor can take away

• The changes touch the top leadership of three businesses at once. Two of them are resignations of senior business heads, announced together with named successors.
• The outgoing leaders stay until a date on or before January 31, 2027, which gives a handover period after the new CEOs take charge in November 2026.
• The Alternates business gets an MD & CEO from outside the group with a private equity and alternatives background, while Wealth Management and Private Wealth are led by internal elevations.
• Mr. Tulsyan's appointment as Whole-time Director needs shareholder approval; the board has approved it subject to that approval and other regulatory approvals.

Nothing here is a view, opinion or recommendation of ScoutQuest, its parent, directors or employees. ScoutQuest is a technology company: this page was assembled automatically from public sources using artificial intelligence, and may contain errors or omissions. Confirm everything against the original source before you act on it. Any use of this page is at your own risk, and neither ScoutQuest nor its parent, directors or employees accepts liability for it.

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