Arpit Agarwal, the former head of ICICI Bank’s private banking venture in India, is to head a new joint venture between UK-based Dawnay Day ...

Arpit Agarwal, the former head of ICICI Bank’s private banking venture in India, is to head a new joint venture between UK-based Dawnay Day International and well known Indian investor Alok Vajpeyi to target India’s wealthy. The new firm, Dawnay Day AV, will be based in Mumbai and cover wealth management, stockbroking, retail distribution, corporate finance, portfolio management, real estate advisory and research services. Mr Vajpeyi was the former head of DSP Merrill Lynch Investment Managers, one of India's leading asset management companies.