Vinay Agarwal, CEO of Angel Broking firm succumbs to stomach cancer at 44

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.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.

He 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. Soon afterwards, he was monumental 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. He was the first CEO of Angel Broking and was developing business strategies and strong analytical skills for the broking house. His death comes a day after the share price of Angel Broking surged 15 percent on BSE after its announcement of achieving the highest-ever monthly client acquisition. “The digital stockbroker has onboarded 3,79,233 customers during March 2021 while continuing its stellar run in the broking industry. The total client base of Angel Broking has now increased to 41 lakh as of March 2021,” the firm had said in a media release.