Image Source: Economic Times
Centricity, a Gurugram-based wealthtech startup, is aggressively expanding its footprint in India’s highly competitive wealth management sector by onboarding 30 senior private bankers. This strategic move is designed to boost the company’s Ultra-High Net Worth Individual (UHNI) business vertical, as it aims to double its assets under management (AUM) to Rs 20,000 crore by March 2026.
Key Highlights and Strategic Vision
With AUM already hitting Rs 10,000 crore in July 2025, Centricity CEO Manu Awasthy has revealed plans to nearly double this figure within eight months, targeting Rs 18,000-20,000 crore by fiscal year-end.
The newly recruited private bankers bring with them extensive experience from prestigious global and Indian financial institutions including UBS, Barclays, Kotak Mahindra Bank, and ICICI Securities.
They will be tasked with managing over 135 UHNI and single-family office (SFO) clients whose portfolios exceed Rs 100 crore.
This initiative marks a significant step in executing Centricity’s vision to democratize affluent financial advice beyond metro cities to the top 70 urban centers across India.
The INVICTUS Platform and Boutique Wealth Management
The newly onboarded bankers will operate under Centricity’s marquee INVICTUS platform, which is tailored specifically to address the unique needs of UHNI clientele and family offices.
INVICTUS integrates proprietary technology and personalized advisory services designed to optimize portfolio performance and offer bespoke wealth solutions.
Emphasizing a boutique wealth management approach, Centricity aims to deepen regionally-focused client engagement through full-time private bankers dedicated to localized market dynamics.
Expanding Beyond Traditional Metros
Recognizing shifting wealth demographics in India, Centricity intends to extend beyond established metro hubs to high-growth secondary and tertiary cities poised for rapid wealth accumulation.
By leveraging its growing physical presence across the top 70 cities, coupled with its investment in technology, Centricity is positioning itself as a leader in India’s evolving wealthtech landscape.
The startup’s approach reflects a broader industry trend toward digitization blended with human advisory, making top-tier financial services accessible to a wider UHNI base.
Market Context and Growth Prospects
India’s wealth management industry is one of the fastest-growing globally, with increasing numbers of UHNI investors seeking diversified portfolio strategies and trust-worthy advisory relationships.
Competition is intensifying among traditional banks, fintech startups, and independent wealth advisors—all vying for the lucrative UHNI segment.
Centricity’s aggressive recruitment of proven private bankers consolidates its competitive stance while ensuring expertise and personalized service, which are key differentiators in this market.
CEO’s Vision and Commitment
Manu Awasthy has placed high emphasis on technology-driven but personalized client experiences, highlighting that “best-in-class financial advice should no longer be a privilege of metros alone.”
He underscored that the new senior bankers will help Centricity scale smartly without diluting the quality relationship management pivotal to UHNI satisfaction.
The company’s growth trajectory is further fueled by its ongoing investment in AI-based portfolio management, risk analytics, and client onboarding solutions.
Conclusion
Centricity’s onboarding of 30 seasoned senior private bankers underlines its ambitious quest to become a dominant player in India’s UHNI wealth management sector. With its innovative INVICTUS platform, focus on regional expansion, and combination of technology with human insights, Centricity is set to redefine accessibility to elite financial advisory, empowering India’s fastest-growing population of ultra-wealthy investors.
Sources: Business Standard, Economic Times, Hindu Business Line, AInvest
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