Awards for Distinction 2021 – Best Domestic Private Bank – India

Best Domestic Private Bank India


ICICI Securities

Best Domestic Private Bank – India

Anupam Guha

head Private Wealth Management, ICICI Securities

“The last two years have been unprecedented and have been a harbinger of change, adaptability and innovation. For us it meant active engagement with clients, monitoring their portfolios and helping them to be on course in their financial journey through these tumultuous times.

The journey for us starts with knowing clients better and offering hyper-personalised solutions, aligned with their risk profile and needs across investments, protection and lending. We have used technology to improve client experience and are continuously innovating to ensure that we deliver these solutions through an omni-channel — be it through the traditional RM channel, a digital DIY platform or a digi-assist hybrid model.

The last two years have once again taught us that the core of wealth management has always been asset allocation; that it is impossible to time the markets but that it is possible to assess risk reward and follow it with discipline despite all the news flow and turmoil around us. Passive and Smart Beta strategies, asset allocation solutions and the Digital First approach define the way forward for our business.”

Winners rationale

If 2020 was the year of strict COVID-19 lockdowns, stomach-churning market volatility and economic upheaval for India, 2021 was the year of rapid vaccinations, soaring equities and rebounding growth.

For the country’s wealth management industry, that narrative was charted in the performance of ICICI Securities, which Asian Private Banker has handed the accolade for Best Domestic Private Bank – India at its latest annual Awards for Distinction.

The judging panel’s decision was based on the market-topping business performance ICICI Securities turned in during the period under consideration, across metrics including asset gathering, revenue growth, as well the Indian private bank’s efforts to boost its product platform.

During full year 2021, AUM at ICICI Securities not only doubled compared to the bank’s asset base during the nadir of the pandemic a year earlier, but also represented a significant increase over its AUM in 2019. Top line at the private bank during the same period surged by a similar percentage and, perhaps even more significantly, ICICI Securities managed to shift the bulk of its revenue to more stable recurring sources as more clients deployed their assets into longer-term products.

While much of that performance can be attributed to a booming year for India’s capital markets, ICICI Securities in 2021 also forged ahead with product innovation. Among the products launched during the year that caught the judging panel’s attention were those under the ‘Premium Portfolios’. The first, ‘Premium Portfolios: Masters of the Street’, allows clients to invest in hand-picked baskets of stocks curated by leading Indian fund managers. The second, via a tie-up with US-based Interactive Advisors, gives clients access to international funds managed by leading global investment firms such as State Street Global Advisors and Legg Mason.

That is why ICICI Securities is named Asian Private Banker’s Best Domestic Private Bank – India for 2021.

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