India-based Avendus Capital, a full service institutional financial services firm, has appointed two senior executives for its private wealth management business.

Ritu Jain has been named executive director for Avendus and will be based out of Delhi. She was previously the market director for Morgan Stanley, where she was instrumental in setting up the company's wealth management business. Prior to Morgan Stanley, she worked with Barclays Bank focusing on investment and banking solutions for high net worth individuals, corporate clients, small and medium enterprises, and trusts.

Kartik Kini joins the team as chief administrative officer from Deutsche Bank, where he was most recently a senior member of the India country management team.

"We have identified the existing gaps in the market and our approach is to address these deficiencies and differentiate ourselves. With a strong team in place, we hope to create a very high quality franchise and build on strong synergies with our existing investment banking, institutional broking and alternate asset management businesses," said Nikhil Kapadia, the chief executive of the firm's wealth management business, in a statement.