Deutsche Asset & Wealth Management
Against this backdrop, one bank has distinguished itself for its patent commitment to building a sustainable onshore platform in India. Deutsche Asset & Wealth Management (Deutsche AWM), the emphatic winner of this award, has underscored this commitment with an industry-leading platform.
The German lender has had a private banking presence in the country for more than 18 years and has built a formidable team with close to 100 professionals on board, including 20 relationship managers, four investment advisors, three credit specialists, and 11 account managers spread across eight different offices in the country. This enviable stable of experts has undeniably been pivotal in developing Deutsche AWM’s coverage of wealthy onshore Indians. Currently, Deutsche AWM provides its services to clients across 19 cities – with 25 of these clients hailing from the Forbes India’s 100 Richest People list. In tandem with Deutsche AWM’s ever-increasing client coverage, assets under management have grown 16% per annum for the last six years while revenue has swelled by 26% in 2014 alone.
The private bank’s capacity to offer an extensive product suite, lending opportunities, and onshore/offshore financing to Indian high net worth and ultra-high net worth individuals, coupled with its ability to remain profitable in a relatively nascent private banking industry, makes Deutsche Asset & Wealth Management the worthy winner of the Best Private Bank – India award in 2014.