Awards for Distinction 2015 – Best Domestic Private Bank – India


IIFL Private Wealth Management

IIFL Private Wealth co-founders (from left) Amit Shah, Managing Partner; Karan Bhagat, Chief Executive Officer and; Yatin Shah, Managing Partner

IIFL Private Wealth co-founders (from left) Amit Shah, Managing Partner; Karan Bhagat, Chief Executive Officer and; Yatin Shah, Managing Partner

An improving economic outlook, better industrial output and a growing number of Indian entrepreneurs all suggest that the wealth management sector in India is poised to grow exponentially. In 2014, the market grew 27.5% to INR257.4 trillion (US$4.1 trillion), on the back of INR122.7 trillion (up 52.3%) in physical assets. Other assets grew 37.7% to INR134.7 trillion. The opportunity is sizeable, particularly with similarly stellar growth expected in 2015.

With a vast number of foreign banks making notable exits over the last few years, the India onshore market remains lucrative for domestic firms. IIFL Private Wealth Management has successfully capitalised on the historical electoral mandate delivered in India, weaving its strategies around it and thereby reaping the benefits through its investments.

By following a client-centric approach, IIFL Private Wealth Management has excelled at delivering disciplined investments backed by rigorous due diligence processes and critical analysis of portfolio performances. With 22 offices across major countries and Indian cities, the domestic wealth manager has amassed US$12 billion in assets under advice, distribution and custody – among the fastest growing firms of its kind in recent years. It has also created a stellar product suite, launching an array of innovative products tailored to the Indian palette such as the NDA Fund post the new NDA government and the AIF, Seeds Venture Fund 1 to cater to the growing interest in the young venture capital space in India.

To align itself with a high number of emerging entrepreneurs in the nation, IIFL Private Wealth Management has rolled out a number of technology initiatives and multi-digital channels such mobile apps, social media campaigns, advanced analytics and cloud-based computing.

It is for these reasons and many more that IIFL Private Wealth Management takes the Best Domestic Private Bank – India 2015 Award.