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Religare Broking taps Vijay Kumar Goel as managing director
Veteran banker to scale broking, wealth distribution and digital capabilities
NEW DELHI: Religare Broking has appointed Vijay Kumar Goel as managing director, reinforcing its leadership as the firm steps up efforts to scale its core broking business and expand wealth product distribution.
Based in New Delhi, Goel will lead the company’s strategic growth agenda, with a focus on client engagement, digital platforms and research capabilities, as India’s capital markets are reshaped by rising retail participation and accelerating digitisation.
A chartered accountant and cost accountant, Goel brings more than three decades of experience across broking, retail NBFCs, asset management, investment and insurance distribution, private wealth management and affordable home finance.
He spent over 14 years at the Motilal Oswal group, serving as managing director and chief executive officer across its broking and distribution, private wealth management and home finance businesses. Earlier, he spent 11 years with the Aditya Birla group, where he began his career in 1994 across multiple financial services verticals.
Most recently, Goel worked independently as an executive coach and business growth consultant, advising financial services firms and mentoring senior leadership teams.
Religare Enterprises group CHRO Indranil Choudhury, said the appointment underlined the group’s focus on strengthening its broking and wealth distribution engines while deepening customer-centric, technology-led capabilities.
Goel said India’s capital markets were entering a phase of structural growth, driven by expanding investment products and higher retail engagement. He added that Religare Broking’s platform and legacy provided a strong base to build differentiated and scalable growth through sharper product propositions and deeper client relationships.
Religare Broking is a wholly owned subsidiary of Religare Enterprises, with a presence across more than 400 cities and a customer base exceeding 1 million.
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Nestlé weighs trimming ice cream footprint and Froneri stak
Swiss giant reviews options including stake cut in €15bn JV as it eyes higher-margin focus post-Unilever split.
MUMBAI: Nestlé is melting down its ice cream ambitions or at least scooping back a few spoonfuls amid a strategic review that could see it slim its stake in blockbuster joint venture Froneri. According to a Bloomberg report published 18 February 2026, the Swiss food and beverage powerhouse is mulling a reduced presence in the global ice cream segment. Options on the table include trimming its holding in Froneri, the joint venture with private equity firm PAI Partners that houses crowd-pleasers like Häagen-Dazs, Mövenpick, and Rowntree’s or even shifting some of Nestlé’s remaining wholly owned ice cream operations into the JV.
Discussions remain fluid, with no final decisions locked in and no guarantee of any transaction materialising. One scenario has PAI Partners boosting its ownership if Nestlé pulls back, while another could see the Swiss group offloading a portion of its stake to an existing investor like the Abu Dhabi Investment Authority (ADIA).
Froneri itself got a hefty valuation boost in October (likely 2025), when Goldman Sachs and ADIA poured in fresh capital, pegging the business at around €15 billion (about $17.69 billion). The move turned heads in the sector, especially as Unilever spun off its ice cream arm last year into the now-independent Magnum Ice Cream Company freeing both giants to chase sunnier, higher-margin pastures.
Nestlé’s rethink, reportedly overseen by new CEO Philipp Navratil as he sifts through the company’s vast portfolio, mirrors broader industry trends: consumer giants are sharpening focus on core strengths amid shifting tastes and profitability pressures. Ice cream might be delicious, but it’s not always the creamiest part of the balance sheet.
Whether this ends in a stake sale, JV expansion, or just more pondering, the frozen dessert world could soon see another ownership shake-up. For now, Nestlé isn’t screaming “last orders” but it’s definitely checking the freezer temperature.
