Q1: How did the business perform in 2025, and what drove its growth over the past year? How has the cost-income ratio trended this year, and what were the key factors influencing it? Looking ahead, what are your main priorities and strategic plans for 2026?

The past 18 months have been a defining period for 360 ONE. Despite a complex global backdrop, our business has delivered consistent momentum driven by disciplined execution, stable client behaviour, and a clear long-term strategy. 

We continue to benefit from strong investor interest in India, which remains one of the most compelling structural growth stories globally. Two initiatives shaped our performance this year.

First, our exclusive strategic collaboration with UBS strengthens our ability to serve clients across jurisdictions through enhanced global access, research, and solutions. It allows us to build a future-ready, globally integrated franchise without diluting our core focus on India’s wealth creators.

Second, the acquisition and integration of B&K has added meaningful depth to our advisory, research, and execution capabilities. The combined platform is already creating a flywheel effect: sharper insights, broader product delivery, and stronger engagement with both new and existing clients.

For FY25, our consolidated cost-to-income ratio stood at 45.9%. This reflects disciplined cost management over the last few years and an operating model built for scalability. As we continue investing in new initiatives, including talent, technology, and global capabilities, we expect a near-term increase of 2-3% in this ratio. 

However, as these investments mature, we anticipate gradual improvement driven by operating leverage, productivity gains, and synergies from recent integrations. Looking ahead to 2026, our priorities remain clear:

• Deepen client relationships and sustain growth across our core wealth, asset, and capital market businesses.
• Strengthen profitability as new initiatives reach scale.
• Continue building a high-calibre, future-ready talent pool.
• Consolidate our position across the ultra high net worth individuals and alternatives segments while expanding meaningfully in the high net worth and mass affluent categories.

Q2: Looking at the investment outlook for 2026, which markets and asset classes are you prioritising for client portfolios to capture opportunities while managing risks? How are clients currently allocating their portfolios, and what trends are you seeing in DPM adoption and investment behaviour?

Client portfolios today can broadly be viewed through the lens of their investment policy statements, divided into five buckets: safety pot, yield plus, core, which is listed equity, alternatives, and international investing. This framework is increasingly relevant as return expectations normalise and investors seek clarity on risk-adjusted outcomes.

Traditional fixed-income options, which deliver 3-4% post-tax, no longer excite clients. The yield plus bucket has therefore expanded to include newer vehicles such as REITs/InvITs, SIFs, and higher-yielding credit opportunities. The search for predictable, tax-efficient income is a clear theme across the franchise.

In alternatives, we are seeing renewed interest in private credit, global secondaries, real assets, and domestic real estate, where investors perceive favourable entry points and the potential for stable cashflows. Private markets continue to play an essential role in client portfolios, aligned with the long-term, multi-asset allocation philosophy embedded in our investment policy statements framework.

We are also seeing a steady increase in global diversification. Platforms such as GIFT City and our global partners have simplified offshore access, enabling clients to build more balanced international allocations.

On discretionary portfolio management, adoption has accelerated as clients recognise the benefits of a disciplined, rules-based approach that removes behavioural biases. This aligns well with our guidance from last year, where we emphasised structured asset allocation rather than timing-driven strategies.

Q3: With artificial intelligence increasingly shaping the wealth industry, how has the firm leveraged technology and AI to transform processes and enhance value for both clients and the back office? What key technology upgrades were introduced in 2025, and what are your digital priorities for 2026 and beyond?

Artificial intelligence is reshaping wealth management globally, and at 360 ONE, we have used the last two years to rebuild our digital architecture around this shift. Our philosophy is unchanged: technology should enhance, not replace, the human advisory experience.

In 2025, two platforms defined our digital leap forward.

The 360 ONE Wealth SuperApp unified PMS, AIFs, mutual funds, structured solutions, global products, bonds, InvITs, REITs, lending, and treasury solutions into a single interface. Onboarding now takes under a minute, and complex alternative transactions can be executed in under two minutes. Embedded LLMs and machine-learning models deliver personalised insights, risk alerts, and rebalancing recommendations.

The RM AdvantEdge platform gives advisors a 360° client view, AI-driven proposal generation, predictive portfolio intelligence, and integrated omni-channel communication. This has improved turnaround times, portfolio discipline, and overall engagement quality.

The impact is visible: rapid adoption across ultra and high net worth clients, strong inflows through the digital stack, and measurable productivity gains in the front office.

Our priorities for 2026 include:

• Deeper personalisation through proprietary AI models.
• Full-lifecycle automation in Alternates, from onboarding to distribution.
• Expanding our open-architecture marketplace.
• Enhanced digital solutions for family offices and institutionalised wealth.
• Strengthening cybersecurity, cloud infrastructure, and enterprise data governance.

We see technology as a long-term enabler of scale, precision, and consistency—while preserving the trust and judgement central to private advisory.

Q4: The private banking industry saw a plethora of leadership and structural changes in 2025. Looking into 2026, what are your key priorities for attracting and retaining talent across the front, middle, and back office? Are there plans for new hires in key markets?

Our talent priorities for 2026 reflect the scale and complexity of our business. We are focused on building a high-quality, future-ready pool of advisors, product specialists, risk professionals, and technology talent across the organisation.

We continue to attract experienced relationship managers, investment specialists, and counsellors who can deepen client relationships and support long-term advisory outcomes. In parallel, we are expanding development programmes for emerging advisors to ensure a strong internal pipeline and enhance long-term retention.

Across risk, compliance, governance, analytics, and product teams, we are strengthening capabilities to match the evolving expectations of clients and regulators. Operational resilience remains a vital pillar, driven by workflow automation, process redesign, and digital tools that support scalability.

Our hiring philosophy strikes a balance between expansion needs and succession planning. We remain committed to a meritocratic culture anchored in transparency, accountability, and aligned incentives, including employee ownership where appropriate.

In the near term, we expect to add high-quality talent across:

• Wealth advisory teams in key regions where UHNI and business-owner-led wealth creation remain strong.
• Product and investment teams supporting our expanding offering.
• 360 ONE Capital—particularly in equity capital markets and investment banking.
• Alternates-focused asset management teams as the business scales.

Our objective is to build a collaborative, innovative, and ownership-driven culture that attracts and retains top-tier talent across the front, middle, and back office.