India 2016 RM Headcount League Table

India 2016 RM Headcount League Table

Army of 132 RMs added across the board

Despite a perceived shortage of talent in the country, India’s 20 largest private banks by frontline headcounts added a combined 132 RMs net, marking a 11.8% increase and bringing the total to 1,246 RMs.

India Relationship Manager Headcount

2016 RankWealth Manager201620152015-2016 YoY
1IIFL Wealth & Asset Management2182009.0%
2Edelweiss Wealth Management15513713.1%
3Anand Rathi Wealth Management1286888.2%
4Kotak Wealth Management1101027.8%
5Motilal Oswal835745.6%
6Centrum Wealth Management807014.3%
7L&T Finance Wealth Management*78108-27.8%
8ICICI Private Bank65616.6%
9HDFC Private Bank40385.3%
10Standard Chartered Private Bank40385.3%
11Julius Baer35350.0%
12Avendus Wealth Management353016.7%
13Sanctum Wealth Management343013.3%
14ASK Wealth Advisors332065.0%
15Barclays Wealth2837-24.3%
16Citi Private Bank252025.0%
17BNP Paribas Wealth Management1719-10.5%
18Deutsche Bank Wealth Management*1618-11.1%
19Ambit Private Wealth 14140.0%
20Credit Suisse Private Banking12120.0%

All figures are APB estimates
*Figures represent bank’s/wealth manager’s estimates


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IIFL Wealth Management retained its leading position after growing its RM headcount by 18 to 218 at the end of 2016.

Anand Rathi Wealth Management’s aggressive hiring strategy saw the boutique wealth manager nearly doubling its headcount to 128 RMs – the biggest gain among the top 20.

Barclays Wealth, Deutsche Bank Wealth Management and BNP Paribas Wealth Management were the foreign players to see their RM headcounts fall in 2016. L&T Wealth Management was the only domestic player to see its RM headcount fall by 27.8% to 78 in 2016.

Go to the India 2016 AUM League Table

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