About 100 senior wealth managers last year agreed to both buy equity in Anirudha Taparia’s new wealth-management venture, Nexedge Capital, and work for it.

That was an unusual proposition in an industry where the next career move is often decided by the salary hike or bonus on offer. Taparia, a former 360 One executive, was asking bankers to become shareholders in the business they were joining.

He was also entering a market where there is increasingly more money to fight over. India’s ultra-high-net-worth population has grown 63% in five........

© The Ken