Business briefs

·2-min read

*IIFL Asset Mgmt elevates Manoj Shenoy as CEO Mumbai, Feb 2 (PTI) IIFL Asset Management on Tuesday announced the elevation of Manoj Shenoy as the chief executive with immediate effect.

Shenoy joined IIFL Wealth Group in April 2020 as executive director following the acquisition of L&T Capital Markets, which was a wholly-owned subsidiary of L&T Finance Holdings.

Shenoy has close to three decades of experience in the financial services industry. Prior to joining IIFL Wealth, he was the CEO of L&T wealth management. He was also the CEO of EFG Wealth Management India, a subsidiary of boutique Swiss private firm ETG Bank.

IIFL Asset Management is part of IIFL Wealth Management, which is one of the leaders in the segment.

**** *Motilal Oswal Investment Advisor appoints Gaurav Saravgi as ED Motilal Oswal Investment Advisors, the investment banking arm of Motilal Oswal group, on Tuesday, appointed Gaurav Saravgi from the Centrum Group as the executive director of the investment banking vertical.

Saravgi has 18 years experience in equities of which 16 years have been in investment banking. He comes from Centrum Capital where he was a senior director and head of equity capital markets, leading origination, execution and syndication of ECM transactions.

Motilal Oswal Investment Advisors offers financial services covering international and domestic capital markets, M&A advisory, private equity, leveraged finance, debt syndication and financial restructuring.

**** *SBI announces 4-day shopping festival for Yono users The State Bank of India (SBI) on Tuesday announced the launch of a shopping festival for its 34.5 million Yono users, the bank's digital lending platform.

The four-day shopping festival--YONO Super Saving Days -- starts from February 4. It will offer an exclusive range of discounts and cashback to Yono users, a release said.

The bank said the platform has partnered with some of the top merchants including Amazon, OYO, Pepperfry, Samsung, and Yatra. PTI BEN HV BAL RUJ