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 Rank||Wealth Manager||2016||2015||2015-2016 YoY|
|1||IIFL Wealth & Asset Management||218||200||9.0%|
|2||Edelweiss Wealth Management||155||137||13.1%|
|3||Anand Rathi Wealth Management||128||68||88.2%|
|4||Kotak Wealth Management||110||102||7.8%|
|6||Centrum Wealth Management||80||70||14.3%|
|7||L&T Finance Wealth Management*||78||108||-27.8%|
|8||ICICI Private Bank||65||61||6.6%|
|9||HDFC Private Bank||40||38||5.3%|
|10||Standard Chartered Private Bank||40||38||5.3%|
|12||Avendus Wealth Management||35||30||16.7%|
|13||Sanctum Wealth Management||34||30||13.3%|
|14||ASK Wealth Advisors||33||20||65.0%|
|16||Citi Private Bank||25||20||25.0%|
|17||BNP Paribas Wealth Management||17||19||-10.5%|
|18||Deutsche Bank Wealth Management*||16||18||-11.1%|
|19||Ambit Private Wealth||14||14||0.0%|
|20||Credit Suisse Private Banking||12||12||0.0%|
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.
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