Vinay Agrawal, the chief executive officer and whole-time director of Angel Broking died on Saturday at the age of 44. He had been suffering from stomach cancer.

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An official statement from the stock broking company said, "It is hereby informed that Mr. Vinay Agrawal Whole-Time Director and Chief Executive Officer of the Company passed away today i.e., Saturday, April 17, 2021."

Agrawal started his 21-year journey into the banking, investment, and financial services world as an equity director in Angel Broking.

Angel Broking is one of India's largest retail stock broking firm and was established in 1987. The company today is a member of the Bombay Stock Exchange, National Stock Exchange of India, National Commodity & Derivatives Exchange Limited, and Multi Commodity Exchange of India Limited.

Agrawal was a chartered account by profession and had done his graduation from the University of Bombay. After joining the group, he worked to streamline the broking operations. He was instrumental in shaping and setting up the equity derivatives segment for Angel Broking, a segment that today is responsible for more than 50 percent of the broking firm’s revenue.

In 2014, CMD of Angel Broking, Dinesh Thakkar announced that the brokerage firm was elevating Agrawal to the position of CEO.

Since then, Agrawal has led the brokerage firm, resulting in massive growth, and converting the opportunities found in a growing population of young retail investors. Angel Broking has been the recipient of multiple awards and recognition on Agarwal's watch.

Just yesterday, the firm announced a massive success in the form of its results during March 2021. Angel Broking had managed to on-board 3,79,233 new customers in the month of March, taking its existing customer base to a grand total of 41 lakh.

The announcement saw a 15 percent increase in Angel Broking's stock price by the time trade closed.

(Edited by : Jomy)

First Published:Apr 17, 2021 7:10 PM IST