Motilal Oswal Board Strengthens Board with 4 New Directors
· Mr Pratik Oswal and Mr Vaibhav Agrawal from the Promoter Group joined the Board to advance the Group’s journey that combines legacy with innovative thinking and long-term ambitions.
· Mr Conrad D’Souza and Mr Ashok Kumar P Kothari joined the Board as Independent Directors, further strengthening the Company’s Corporate Governance framework and bringing extensive experience across diverse sectors.
Mumbai, October 30, 2025: Motilal Oswal Financial Services Limited (“MOFSL” / “the Company”) today announced key appointments to its Board of Directors, aimed at further strengthening strategic leadership, governance, and business continuity.
The Company has appointed Mr Pratik Oswal and Mr Vaibhav Agrawal from the Promoter Group to its Board of Directors. Additionally, Mr Joseph Conrad Agnelo D’Souza (Mr Conrad D’Souza, a senior HDFC Group veteran for 4decades) and Mr Ashok Kumar P. Kothari, a senior IRS officer with 3decades of distinguished career) have been appointed as Independent Directors, enhancing the Board’s diversity, oversight capability, and strategic depth.
These appointments, approved by the Board of Directors, mark a significant step in strengthening the Company’s leadership bandwidth, business oversight, and strategic direction, while reinforcing its governance standards in line with global best practices.
The newly inducted members bring extensive experience in areas such as asset management, lending, taxation, strategy, risk management, regulatory affairs, and corporate leadership. Given their proven leadership and experience across multiple domains, their collective expertise is expected to enhance the Board’s oversight capabilities and strategic depth, reinforcing the Company’s long-term growth trajectory.
Mr MotilalOswal, Co-founder and Chief Executive Officer of MOFSL, said: “I am delighted to welcome the next generation of our Promoter Group to the Board. Pratik and Vaibhav bring along the values, vision, and entrepreneurial spirit on which the Motilal Oswal Group was built. Their presence marks an important milestone in the Group’s journey that blends legacy with fresh thinking and long-term ambition.”
“We are also pleased to welcome Mr Conrad D’Souza and Mr Ashok Kumar P Kotharito the Board. Their leadership, integrity, and domain expertise will add immense value to our governance processes and strategic direction,” Mr Oswal added.
Mr Raamdeo Agrawal and Mr Motilal Oswal will continue to be in their current roles, actively guiding the company''s strategic direction. These additions highlight MOFSL''s commitment to long-term value creation, business excellence, and resilience, with a focus on core principles of knowledge, action, and trust that shape its ongoing journey.
About Mr Pratik Oswal
Mr Pratik Oswal currently heads the Passive and Quant Funds division at Motilal Oswal Asset Management Company Limited (“MOAMC”), where he has been instrumental inbuilding one of India’s most comprehensive suites of Exchange Traded Funds (“ETFs”)and Index Funds. Under his leadership, MOAMC has emerged as a pioneer in the passive investment space, offering innovative and cost-efficient investment products to a growing base of retail and institutional investors.
His deep experience across asset management, complemented by prior roles in Investment Banking, Private Equity and Hedge Funds provides a holistic understanding of global capital markets and investor needs. This breadth of expertise will be invaluable in driving Motilal Oswal Group’s next phase of growth, particularly as the firm continues to scale its asset management platform.
With global exposure from his tenure at a San Francisco-based FinTech start-up backed by
Y Combinator and Khosla Ventures, he also brings a strong entrepreneurial mindset and a
technology-led perspective to the Group’s strategic initiatives. Pratik holds a Bachelor’s degree in Mathematics and Economics from Emory University, USA, and an MBA from the London Business School, UK.
About Mr Vaibhav Agrawal
Mr Vaibhav Agrawal, who oversees an AUM of approximately ?10,000 Crore across the alternate investment platform at Motilal Oswal Asset Management Company Limited(“MOAMC”), brings extensive experience in equity research, portfolio management and stock selection. He has consistently delivered strong, index-beating performance across market cycles, underscoring his deep understanding of fundamental investing and market dynamics.
As the head of the alternates business, Vaibhav has played a pivotal role in building a scalable and high-performing platform within one of the Group’s most important growth verticals. His hands-on investment expertise, disciplined research approach, and proven ability to identify long-term value opportunities are expected to significantly contribute to the Group’s journey ahead.
Prior to leading the alternates platform, he successfully managed Portfolio Management Services (“PMS”). He began his career as a Ratings Analyst at CRISIL before joining MOAMC as an Investment Analyst, where he refined his expertise inequity markets and investment strategy.
Mr Agrawal holds a Bachelor’s degree in Computer Science from the University of Pennsylvania, USA, and an MBA from the London Business School, UK.
About Mr Conrad D’Souza
Mr Conrad D’Souza was associated with HDFC Limited for over 39 years and was responsible for strategy, treasury corporate planning and budgeting, investor relations and corporate finance. He was Treasurer of HDFC Limited and his responsibilities included resource mobilisation and asset liability management.
He has worked on assignments for multilateral agencies in financial services in Asia, Africa and Eastern Europe. He has also helped set up mortgage companies in Bangladesh, Sri Lanka, Egypt, Maldives and Tanzania. His rich global experience and exposure to multilateral finance / emerging markets would help the group in its further growth.
Among the directorships, Mr D’Souza is associated with Chalet Hotels, Bharat Bijlee Limited, Prism Johnson Limited, Asianet Satellite Communications Limited, Camlin Fine Sciences Limited, Mahananda Spa & Resorts Private Limited, Niwas Housing Finance Private Limited, Raheja QBE General Insurance Company Limited and Juhu Beach Resorts Limited.
Mr D’Souza holds a Master’s Degree in Commerce, a Master’s Degree in Business Administration, a Diploma in Financial Management and is a Senior Executive Programme (“SEP”) graduate of the London Business School.
About Mr Ashok Kumar P Kothari
Mr Ashok Kumar P Kothari, an Indian Revenue Service (Retd.) Officer and Former Commissioner of Central Board of Indirect Taxes and Customs (“CBIC”), brings over three decades of distinguished public service marked by integrity, performance and excellence. Throughout his illustrious career, he has held key positions across various formations and levels, earning widespread respect within and outside the Department. He has held positions in Intelligence and Investigations wings across his career in CBIC. He has also been contributing in capacity building as lecturer for officers from India and abroad.
Mr Kothari possesses deep expertise in the domain of Indirect Taxes and regulatory frameworks with his contributions being recognized internationally including the WCO Certificate of Merit awarded for exceptional service to the global customs community. His extensive regulatory experience, coupled with his strong ethical grounding, will significantly strengthen the corporate governance benchmarks of the Company and enhance the Board’s oversight capabilities.
A Chartered Accountant by qualification, Mr Kothari holds a Bachelor’s degree in Commerce from Narsee Monjee College of Commerce & Economics, Mumbai, and has completed executive programs at IIM Lucknow, IIM Bengaluru, the University of South Korea, the National University of Singapore, and the University of Cambridge, U.K.
About Motilal Oswal Financial Services Limited (“MOFSL”)
MOFSL is a financial services company. Its offerings include Wealth Management, Capital Markets (Institutional broking & Investment banking), Asset & Wealth Management (Asset Management, Alternates & Wealth Management), Housing Finance & Equity-based treasury investments.
MOFSL employs13,250+ employees and serves 13.6 million+ clients via a distribution reach in550+ cities. Its assets Under Advice (AUA) are Rs. ~6.5 Lakh Crs.
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