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Fintso brings on board ex-Wall Street fund manager Soumyo Sarkar to advisory council

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The Economic Times
08th April, 2021 16:00 IST

Fintso, an AI-based wealth-tech platform catering to independent financial advisors and their investors, has announced the appointment of Wall Street veteran Soumyo Sarkar in the organisation’s investment advisory council.

Sarkar, given his background on deploying quant-based investment strategies, will help in creating the algo-framework for investment recommendations on the platform. This includes the Global Investment product suite launched by the company – which helps financial advisors in India by providing investment ideas and execution for their clients into global assets.

The Wall Street professional has experience of over 35 years working with leading firms like Credit Suisse, Deutsche Bank, Merrill Lynch, Salomon Brothers and Lehman Brothers. Known for his thematic style of trading and experience in managing multi-billion dollars of AUM, Sarkar’s annualised net returns are in excess of 25% and his team has had no down years, including the market crash years of 2000 and 2008.

“Soumyo’s rich expertise in managing investments at scale across multiple markets, and in Quants, will add a lot of strategic value to Fintso, enabling us to turn our goal of democratising the financial advisory industry into a reality. This is a big value addition for our subscribers and their clients,” George Mitra, co-founder and CEO of Fintso, told ET.

“Fintso is addressing one of the key issues in India – how to enable the large segment of independent advisors and distributors in digitising their business and equipping them with the tools that can help provide both quality advice and product suites to the clients they serve. Given the fragmentation, and the low financial awareness, these independent advisors act as the bridge of trust, and are the last mile-connectivity to the majority of the people. Digitising the offering, especially the investment recommendations, is key to this, and this can only happen through the extensive use of Algos and AI-ML,” said Sarkar.

Fintso received $2.6 million in its maiden round of funding last March. The funding was raised from a set of individual angel investors, including Rajeev Juneja (CEO of Mankind Pharma), Pratul Shroff (founder of Infochips) and Dilip Khandelwal (MD and head of technology, Asia Pacific, Deutsche Bank), as well as other notable names, including the general partners of some of the largest consumer VCs in India.

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