Reliance Wealth Management, a subsidiary of Reliance Capital, today said it has appointed Nitin Rao as its new chief executive officer. He will be responsible for driving a more broad-based strategy for growing the wealth management offering to high net worth individuals, the company said in a statement. In this new role, Rao will report to Anmol Ambani, executive director at Reliance Capital. Rao joined Reliance Wealth Management after 19 years at HDFC Bank, where he was executive vice president of private banking group and third party products, and had built its wealth business ground up into a significantly dominant leadership position.