Exhilway, the Canada’s largest wealth management organization, in an attempt to expand its wealth management business in India have decided to hire the best top brass of other financial companies in India. Exhilway which carries a huge investment corpus have already started approaching the directors of the competitor companies in India with a hefty pay package and the better designation.
“Exhilway is cash rich enterprise, money is not a problem for them. Top brass of many companies are on there on hit list and many of them have already started negotiating with them. My offer letter is already rolled out and I will make a move soon,” said a senior official of a top brokerage house based out of Delhi requesting anonymity.
Indian brokerages are already going through a rough phase; companies like SMC and Motilal Oswal have already fired a big chunk of their employee base to reduce overheads. The increased competition and the falling profit margins are doing the damage.
“Every brokerage house in India works on a complex salary and incentive model, we have to do over 4 times of our salary per month to become eligible for the incentive which is just peanuts. Why shall I leave opportunity coming from Exhilway which is demanding just 2 times of my cost to the company and offering me excellent incentive payout structure,” said an employee of India Infoline.
CandyDate Jobs, India’s largest human resource consultancy will manage the entire process of negotiating and hiring.
Exhilway is a hedge fund company headquartered in Calgary, Canada. Exhilway is the sixth largest financial company in the world that masters in the art of proprietary arbitrage which includes global equity and commodity markets. Exhilway employs over 9500 people worldwide as of 2011.