India is facing a version of the same tension seen in other Asian markets, but expressed through a different stage of capital market development and regulatory design. For years, the idea in India was simple: as the economy opened up and grew, it was normal for wealthy individuals and companies to move money abroad. It was seen as part of […]

The post Bottom Line: India joins the clampdown on overseas money flows appeared first on Asian Private Banker.

A sharp retreat in foreign venture capital and chronic rupee depreciation are driving India’s ultra high net worth families to pivot inward, funnelling massive domestic liquidity into private equity and private credit to capture elusive double-digit returns. “While well established in the West, this (private markets) is something that is growing in leaps and bounds in India,” Manoj Shenoy, co-founder […]

The post Indian UHNWs pile into private markets as foreign VC retreats appeared first on Asian Private Banker.

Private banks have been known to train their relationship managers (RMs) in all manner of things — from fine art, whiskey and wine — to understand and meet the needs of their wealthy clients. But what if this is all misguided, and RMs should really be trained in the arts of yoga, mindfulness and meditation? To get into the minds […]

The post “Longevity and mindfulness” now define modern Indian wealth — Kotak’s lux index appeared first on Asian Private Banker.

While several private banks have chosen to divest their trust businesses, Kotak Mahindra stuck to its guns in the belief that trusts would become the key vehicle for legacy planning in India’s growing wealth market. Kotak first unveiled a wealth management business in 2004. A year later, it established a dedicated trust business, Kotak Mahindra Trusteeship Services (KMTSL), and hired Gautami […]

The post Kotak’s US$5.4bn trust business bucks private banking divestment trend appeared first on Asian Private Banker.

When Rajmohan Krishnan picked up his first paycheque in 1993, India was a different place. A liberal-minded premier, PV Narasimha Rao, was reforming a fragile economy. The country’s first private lender, IndusInd Bank, wouldn’t open for business for another 12 months. Anyone with wealth and ambition moved to Hong Kong, London or New York. He moved up the financial value […]

The post India’s wealth dilemma: Who grinds, who inherits and who squanders appeared first on Asian Private Banker.

There is a leadership change underway in Julius Baer’s onshore India business as a top executive is set to leave the Swiss pure play. Umang Papneja will be stepping down as the chief executive officer for India after nearly four years in the role to pursue other opportunities. He will continue working for the bank through July this year to […]

The post Julius Baer India CEO to step down, interim appointed appeared first on Asian Private Banker.

Wealth in India is no longer concentrated in a handful of big cities. It’s being created and amassed not just in tier-one hubs like Mumbai and Delhi, but in dozens of smaller cities once considered backwaters. Private banks and wealth managers are following the money, setting up shop in places they once ignored. Wealth management coverage in India used to […]

The post Why India’s private banks are chasing hidden regional wealth appeared first on Asian Private Banker.

India’s wealth management sector is expanding rapidly, propelled by a surge in the number of new billionaires. The country now counts 358 billionaires, according to the Hurun India Rich List, making it the world’s third-largest hub for ultra-wealthy individuals after the US and China But this rapid accumulation of wealth has exposed a critical bottleneck: a shortage of seasoned advisory […]

The post Barclays PB, Nuvama Private feel the squeeze from India’s senior banker shortage appeared first on Asian Private Banker.

Barclays has named a permanent head for its private banking business in India, signalling a reinforced commitment to one of its most vital global hubs.  The London-headquartered bank named Adrish Ghosh as head of private bank for India, according to a statement on Thursday. Ghosh, who has been steering the division in an interim capacity since August, previously served as […]

The post Barclays names India private banking head appeared first on Asian Private Banker.

When Azim Premji was born in 1945, his hometown of Mumbai was called Bombay, India laboured under British rule, and the technology industry that would come to define his fortune at IT giant Wipro was barely visible on the horizon. Had he retired after building Wipro, Premji would likely be remembered as a disciplined and understated industrialist. Instead, he began […]

The post How this Indian family office built a US$33bn philanthropic endowment appeared first on Asian Private Banker.

When you take time to look properly at India’s wealth industry, every data point startles. Deloitte reckons the industry will hit US$2.3 trillion in assets under management by 2029, up from US$1.1 trillion in 2024. Boston Consulting Group tips the number of millionaires in India to jump 55% over the same period, driven by record initial public offerings and private equity […]

The post India’s wealth boom hits talent crunch as RMs get pricey appeared first on Asian Private Banker.

This is a sponsored advertorial from PineBridge Investments. By Omar Slim and Andy Suen, Co-heads of Asia Fixed Income Key Takeaways Asia’s economy surprised to the upside in 2025. Despite tariff pressures and global uncertainty, the region demonstrated resilience that few anticipated. Exporters accelerated shipments ahead of tariff deadlines, exemptions in the second half of the year eased the impact, […]

The post 2026 Asia fixed income outlook: Tested again. Resilient again.  appeared first on Asian Private Banker.

Nearly a year after securing US$18 million from Jungle Ventures, Waterfield Advisors’ founder and CEO Soumya Rajan is eyeing acquisition opportunities in India’s independent advisory market. Rajan had often been approached by investors. On each occasion, she politely but firmly declined. Until Jungle Ventures called. The Singapore-based venture capital firm was different. But why? One factor was simple timing: its approach […]

The post Waterfield scores US$18m — Soumya Rajan charts next growth moves appeared first on Asian Private Banker.

In September, India led the hiring in Asia as LGT named seven managing directors from Barclays for its onshore India wealth business. The month also saw some major moves in the industry, including the former Bank of Singapore co-head of private banking, Robin Heng, joining EFG as vice chairman of Southeast Asia after announcing his retirement last year. VP Bank’s […]

The post Movers & Shakers: Who is LGT up against in India? appeared first on Asian Private Banker.

LGT has hired seven new managing directors (MDs) from Barclays Private Bank India for its onshore India wealth management business. Sunit Jain, Anirudh Chowdhry, Harpreet Sawhney and Manisha Saxena have all joined the Liechtenstein-headquartered private bank in Delhi. Jain has been named as co-head, client coverage for the private client business. He was most recently head of North India at […]

The post LGT adds seven Barclays MDs to expand India wealth business appeared first on Asian Private Banker.

In 2024, India’s top 30 private banks and wealth managers collectively managed US$812 billion in assets, and the number of relationship managers in the country crossed 10,000, but this growth was slower compared to 2023. Fresh data from APB Insights’ India 2024 League Tables revealed that, out of 30 banks, the majority reported double-digit AUM increases, while several saw growth […]

The post India 2024 AUM League Tables: AUM crosses US$800bn, StanChart overtakes Julius Baer appeared first on Asian Private Banker.

Indian family offices are doubling down on private equity and venture capital, with a growing focus on formalising governance and succession planning, according to a recent joint report by EY and Julius Baer. The report, The Indian family office playbook, which surveyed more than 25 niche family offices in India, highlighted that 26% of those surveyed allocate more than 20% […]

The post Indian family offices zero in on private equity and planning – Julius Baer appeared first on Asian Private Banker.

The post Analysis appeared first on Asian Private Banker.

The post AUM per RM appeared first on Asian Private Banker.

The post RM Headcount appeared first on Asian Private Banker.

The post Private Banking & Wealth Management AUM appeared first on Asian Private Banker.

India’s private wealth boom as AUM hits new heights Top 30 companies The combined AUM of India’s top 30 private wealth management companies reached US$800 billion in 2024, as firms began to venture into the private markets space and expand their coverage of global markets. In terms of individual rankings, ICICI Bank Private Banking, Kotak Private Banking, and Axis Bank […]

The post Overview appeared first on Asian Private Banker.

Ionic Wealth is blending smart tech with human advice to scale fast in India’s competitive wealth space. The Mumbai-headquartered firm is tapping into the country’s digitally savvy population through a flexible model that offers access via app or adviser. Co-founded by CEO Srikanth Subramanian, the firm operates in nine Indian cities with a team of 166, including 57 relationship managers (RMs). It serves […]

The post Indian wealth firm betting on AI to scale up appeared first on Asian Private Banker.

Spark Capital Private Wealth Management (Spark Capital PWM) has joined a growing number of Indian firms looking to build out wealth services in the Middle East. Spark Capital PWM has launched operations in the Dubai International Financial Centre (DIFC) under Spark Global PWM Private Limited, a new Dubai Financial Services Authority-regulated entity, to serve as a hub for its Middle […]

The post Another Indian wealth manager joins Middle East wealth rush appeared first on Asian Private Banker.

When Vinay Gandhi joined Standard Chartered in 2021 from J. Safra Sarasin, he was tasked with turbocharging the emerging market-focused lender’s private bank presence in ASEAN and the global South Asian community. Although Gandhi has since moved away from managing the ASEAN market, the South Asia book of business – whether onshore or booked in Singapore or Dubai – has […]

The post “Five times increase in AUM”: Vinay Gandhi on StanChart’s India strategy appeared first on Asian Private Banker.

China has unleashed new monetary measures designed to support its economy amid its trade skirmish with US President Donald Trump, but private banks in Asia are unconvinced it will be enough to add sustained momentum to local markets. Key measures announced by Beijing this week included a policy rate cut of 10 basis points; a re-lending and pledged supplementary lending […]

The post China unleashes new monetary bazooka – but private banks want more appeared first on Asian Private Banker.

Blackstone-backed ASK Asset & Wealth Management Group has made a senior hire as part of its efforts to expand its equity products proposition. Based in Mumbai, George Heber Joseph has joined ASK Investment Managers, a business unit of the ASK Group, as chief investment officer and chief executive officer for its equity business, according to a company statement on Tuesday. […]

The post Blackstone-backed Indian firm makes senior hire from Jio BlackRock appeared first on Asian Private Banker.

UBS Global Wealth Management’s (UBS GWM) decision to sell its onshore India business to 360 One Wealth and Asset Management (360 One WAM) will have surprised few. The Swiss lender joins a growing list of private banks that have struggled to penetrate India’s onshore wealth market, which was worth about US$670 billion as of 2023, according to APB Insights data. […]

The post Bottom Line: Is the onshore India dream over for global private banks? appeared first on Asian Private Banker.

Indian wealth manager 360 ONE WAM (360 ONE) has announced that it will acquire UBS Global Wealth Management’s (UBS GWM) onshore business in Asia’s third-largest economy. The statement by the two groups on Tuesday marks the exit of UBS GWM from its boots-on-the-ground presence in the onshore India market. UBS inherited Credit Suisse’s business in India after the Swiss giants […]

The post 360 One to acquire UBS GWM’s India onshore wealth business appeared first on Asian Private Banker.

The asset management arm of India’s largest wealth manager has made a fresh investment in a conglomerate-owned insurer. 360 ONE Asset, through funds that it manages, will acquire a 15% stake in Bharti AXA Life Insurance to strengthen the company’s growth trajectory, unlock new avenues for innovation and enhance market share, according to a company statement on Tuesday. The firms […]

The post India’s 360 ONE Asset acquires stake in insurance business from major conglomerate appeared first on Asian Private Banker.

360 ONE Wealth and Asset Management (360 ONE WAM) will acquire a prominent brokerage as India’s top wealth manager seeks to extend its influence in the country’s booming small and mid-cap stock space. On Tuesday, 360 ONE WAM announced that it will take over Batlivala & Karani Securities (B&K), a mid-cap full-service broker dealing with institutional investors that also offers […]

The post India’s biggest wealth manager eyes small-cap space with broker deal appeared first on Asian Private Banker.

Indian wealth manager ASK Private Wealth has appointed an industry veteran as chief investment officer and head of equity advisory. Based in Mumbai, in his new role Vinay Jaising will be responsible for building the equity advisory proposition across discretionary, listed and pre-IPO, non-discretionary, derivatives and stock-specific bespoke strategies for the firm’s ultra high net worth, family office and institutional […]

The post Blackstone-backed ASK Private Wealth appoints chief investment officer appeared first on Asian Private Banker.

HSBC is expanding its presence in India by opening a new office in the GIFT City, as a growing number of global and domestic wealth managers seek to tap India’s growing wealth market. This week, HSBC unveiled the opening of a new office in India’s GIFT City for its International Wealth & Premier Banking (WPB) solutions. This follows the UK […]

The post HSBC expands onshore India presence with new GIFT City office appeared first on Asian Private Banker.

From hiring sprees to restructurings, from alternatives momentum to intermediary disruption, to India, China and Trump, Asian Private Banker highlights the top trends that dominated the world of private banking in Asia in 2024. Hiring: Selective hiring sprees  While 2024 was characterised by organisational restructurings, leadership reshuffles, and heavyweight departures, private banks still saw room to grow in terms of relationship […]

The post That’s a wrap: The Asia private banking trends that dominated 2024 appeared first on Asian Private Banker.

Blackstone-backed Indian wealth manager ASK Private Wealth has appointed a COO and head of wealth management. Based in Mumbai, Aditya Mishra is now COO and head of wealth management at ASK Private Wealth, according to a company announcement on LinkedIn on Thursday. Mishra holds over 28 years of experience in wealth management and banking, covering markets spanning India, Southeast Asia, […]

The post Blackstone-backed Indian wealth manager appoints COO and head of wealth management appeared first on Asian Private Banker.

While competitors are still in the planning stages of similar non-resident Indian (NRI) initiatives and lack the same level of integrated, global connectivity, Julius Baer is already reaping the benefits of its early foothold, according to Kunal Sumaya, head of global NRI. “Unlike other institutions that have fluctuated in their approach, Julius Baer has consistently stuck to its strategy, particularly […]

The post While rivals plan, Julius Baer profits from NRI, says Kunal Sumaya appeared first on Asian Private Banker.

DBS Private Bank (DBS PB) is betting on India and Taiwan as the new frontiers for family office growth. “We are lucky, because we rode the wave of the Covid pandemic that was a big hit for most other private banks, but not for DBS. That pandemic really exemplified how successful Singapore is in providing a very resilient and stable […]

The post DBS Private Bank targets India and Taiwan for family office growth appeared first on Asian Private Banker.

Indian family business owners face a dilemma. How do they balance family obligations with those of their business stakeholders when it comes to safeguarding and growing their wealth? Poonam Mirchandani thinks she has the answer. Balancing these responsibilities requires careful planning to make sure both the family legacy and the needs of the broader business are well-managed and work together […]

The post LGT believes it has the answer to Indian families’ succession drama appeared first on Asian Private Banker.

ASK Private Wealth, a Blackstone-backed Indian wealth manager with over US$10.3 billion in client assets, believes its nimble on-the-ground presence and ability to deliver client onboarding and transactions at pace give it a crucial edge over international private banks looking to further their presence in Asia’s third-largest economy. “Frankly, if you ask who the competitors are for me, the ones […]

The post Blackstone-backed ASK Private Wealth seeks to triple onshore India AUM appeared first on Asian Private Banker.

Following a wave of high-profile exits disrupting an otherwise tranquil summer, Asia’s pure-play private banks began ramping up hiring efforts in September. Last month, Julius Baer hired Reto Beurer as a team head for Asia Switzerland from Credit Suisse, where he was a senior relationship manager and head of private banking, South Asia Switzerland. In addition, four new hires were […]

The post Movers & Shakers: Pure plays pick prominent professionals appeared first on Asian Private Banker.

LGT Wealth India has hired a managing director from Barclays Private Bank, the firm said in a statement on Wednesday. Based in Mumbai and effective August 2024, Poonam Mirchandani has been appointed as a managing director for the wealth planning and family solutions division. In her new role, Mirchandani will be responsible for expanding the wealth manager’s offerings in succession […]

The post LGT Wealth India hires MD for wealth planning team from Barclays PB appeared first on Asian Private Banker.

The inclusion of Indian government debt in a key benchmark index could attract at least US$30 billion into the market, with potential for further increases as global investors shift towards overweight positions, according to Kenneth Akintewe from abrdn. The head of Asian sovereign debt believes inclusion into the JP Morgan Government Bond Index-Emerging Markets (JP Morgan GBI-EM) not only enhances […]

The post How India could add spice to private banks’ global bond menu appeared first on Asian Private Banker.

While wealth in India has traditionally accumulated around Mumbai and Delhi, a rising middle class means more wealth is being created outside the major cities, providing a new challenge for those looking to tap this growing pool of potential clients. 360 ONE Wealth is responding by sharpening its focus on rising wealth hub GIFT City and using a hub-and-spoke model […]

The post Top wealth manager reveals hotspots in India’s US$670bn wealth landscape appeared first on Asian Private Banker.

Kotak Private Banking has recorded a 37% jump in assets under management (AUM) and significant growth across metro and non-metro Indian cities, and its CEO is even more bullish about what is yet to come for the business in this fast-growing economy. According to APB Insights, the Mumbai-headquartered bank has maintained its spot as the second-largest Indian private bank by […]

The post CEO of leading Indian private bank explains strategy behind 37% AUM jump appeared first on Asian Private Banker.

Barclays Private Bank has made a senior appointment for India, the bank said on Wednesday. Based in Mumbai, Hussain Selani has been named managing director, head of investments India and Global Indians. He reports to Jean-Damien Marie, global head of investments, Private Bank & Wealth Management, and locally to Nitin Singh, head of Private Bank, Asia Pacific. Selani will oversee […]

The post Barclays PB makes senior hire for India appeared first on Asian Private Banker.

Indian wealth manager 360 ONE has appointed a CEO for its asset management arm to enhance its alternative investments capability. The firm named Raghav Iyengar as CEO for 360 ONE Asset, subject to necessary approval, to strengthen its strategic direction and growth agenda, it said in a statement on Tuesday. Iyengar will drive the overall business strategy, design the product […]

The post India’s 360 ONE names CEO for asset management arm appeared first on Asian Private Banker.

Asian Private Banker is delighted to announce the launch of its India 2023 League Tables, which shed light on India’s growth story and the business strategies of the region’s private banks and wealth managers. By the end of 2023, the Indian private banking sector managed approximately US$670 billion in assets, a 33% increase from last year’s US$506 billion. With the rally […]

The post APB Insights: India private wealth management AUM soars past US$670bn appeared first on Asian Private Banker.

Indian wealth manager 360 ONE WAM has enlisted a renowned former Morgan Stanley emerging markets expert to strengthen its asset allocation capability. Based in New York, economic commentator and fund manager Ruchir Sharma has joined the Asset Allocation Committee (AAC) of 360 ONE Wealth, according to a company statement on Thursday. The AAC offers strategic and tactical allocation guidance for […]

The post India’s 360 ONE brings in renowned ex-Morgan Stanley veteran to enhance market views appeared first on Asian Private Banker.

While US AI stocks may still dominate the market narrative going into the second half of the year, private banks are identifying more opportunities in Asia, expecting the region to deliver robust GDP growth throughout 2024. HSBC Global Private Banking’s (GPB) Asia CIO team believes Asia remains the most important growth engine of the global economy with projected GDP growth […]

The post Private bank CIOs pivot to Asia market opportunities for 2H24 appeared first on Asian Private Banker.

Indian wealth manager 360 ONE WAM has fully acquired a domestic digital investment advisor, marking its first move into wealthtech. 360 ONE WAM will acquire 100% of ET MONEY via a stock swap deal and part cash subject to regulatory approvals, according to a statement from the Indian wealth manager on Thursday. The total consideration for the deal is approximately […]

The post India’s 360 ONE WAM steps up digitalisation with wealthtech acquisition appeared first on Asian Private Banker.

Asia’s private banks remain bullish on India in the long term despite volatility in shares and bonds sparked by Prime Minister Narendra Modi’s surprise failure to secure a parliamentary majority. Modi, of the ruling Bharatiya Janata Party (BJP), is set to be India’s Prime Minister for a third term after a tight election in which the party fell short of […]

The post Modi 3.0: Private banks still bullish on India despite surprise election result appeared first on Asian Private Banker.

LGT Wealth India’s assets surged by over 75% last year, with its ex-Credit Suisse investment team helping to drive growing interest in fixed income discretionary portfolio management (DPM), supported by recent tax changes. As CEO of LGT Wealth India, Atul Singh is not fazed by the bigger foreign competition – he knows it is not about size, but service. In […]

The post LGT Wealth India’s AUM jumps 75% while ex-Credit Suisse team drives DPM push appeared first on Asian Private Banker.

After years of false dawns, India’s wealth management industry in 2024 has all the vital ingredients for success: a China-beating 6.5% growth rate minting legions of new millionaires, a booming stock market, companies going global in a hurry, and a pro-business government about to win a fresh mandate from voters. All this growth is fueling one of modern history’s greatest wealth-creation […]

The post US$270bn opportunity: Why India’s wealth managers are upping their game appeared first on Asian Private Banker.

HSBC Global Private Banking (GPB) was close to being the largest private bank in Asia until the two Swiss giants, UBS and Credit Suisse, merged last year. Following HSBC’s recent inaugural Global Investment Summit (GIS) in Hong Kong, Annabel Spring, global CEO for GPB and Wealth, shared the bank’s secret weapons in aspiring to be Asia’s leading private bank. “We […]

The post It’s not all about AUM: Annabel Spring on HSBC’s aspiration to be Asia’s leading private bank appeared first on Asian Private Banker.

Private banking analysts are rethinking the big shift towards India, as China’s efforts to stabilise Asia’s largest economy are now gaining traction. On Monday, the closely watched Caixin purchasing managers’ index returned to expansion territory in March. The increase to 51.1 marks the fifth straight month of improvement – the best winning streak for Chinese manufacturing in more than two […]

The post Private banks rethink India pivot amid improving China data appeared first on Asian Private Banker.

This is a sponsored article from Schroders Capital. As we enter a new market paradigm, private equity investors should consider the replicability of past successes. Schroders Capital explores the most compelling opportunities in private equity currently. Authors: Tim Boole, Head of Product Management Private Equity; and Co-head of Schroders Capital Structuring Verity Howells, Investment Research Manager, Private Equity, Schroders Capital […]

The post Rethinking the re-up in private equity appeared first on Asian Private Banker.

India’s stock market has surged over the last 12 months amid a wave of optimism over one of Asia’s biggest economies, but Goldman Sachs Asset Management (Goldman Sachs AM) thinks the best could be yet to come. The country’s benchmark SENSEX is up more than 20% over the last 12 months, with private banks ranging including UBS Global Wealth Management […]

The post US$4 trillion opportunity: Goldman Sachs sees no end to India boom appeared first on Asian Private Banker.

Morgan Stanley continues to prefer Japan and India equity versus emerging markets (EM) and China this year as Japan has made a strong start to 2024 with TOPIX gaining +5.3% as of 18 January. Equity performers: Japan and India Japan remains a key overweight market for the US bank. The top 3 favourable sectors include automobiles & transportation equipment, commercial […]

The post “EM and China are lagging meaningfully”: Why Morgan Stanley still favours Japan, India appeared first on Asian Private Banker.

With a significant drawdown in China’s private equity (PE) activity in recent years, Japan and India have benefitted from increasing investor interest, especially in domestic-driven sectors. This is according to David Bajada, investment director, private equity, at Schroders Capital. “Within PE, what you’ve seen is a huge decline in both value and volume of transactions within APAC more broadly, very […]

The post Move over China – Why Japan and India are PE’s new rising stars appeared first on Asian Private Banker.

India’s rapid economic growth over the last two decades has lifted millions out of poverty and contributed phenomenally to global human development. It is now the fifth largest economy in the world and will likely be the third largest in the next seven years, with its GDP more than doubling from the current US$3.3 trillion. According to our analysis, India […]

The post India: An ESG landscape in transformation appeared first on Asian Private Banker.

Singapore is the hottest residential property market in Asia Pacific with 8% YoY growth in H1 2023, followed closely by Tokyo and Mumbai, while the Australasian market continued to see falling property prices. That’s according to Knight Frank’s Asia Pacific Residential Review Index for H1 2023, which tracks the movement of average residential house prices across 25 cities in Asia […]

The post What are Asia’s hottest housing markets for HNWIs? appeared first on Asian Private Banker.

BlackRock has partnered with Jio Financial Services (JFS) to launch an asset management joint venture in India, according to an announcement on Thursday. The joint venture aims to offer tech-enabled affordable investment solutions to Indian investors. JFS and BlackRock will each contribute an initial US$150 million for a 50:50 share in the new joint venture named Jio BlackRock. The new […]

The post BlackRock targets India’s US$500bn wealth space with new JV appeared first on Asian Private Banker.

India’s private banking and wealth management AUM topped US$500 billion in 2022, thanks to the strong economic backdrop and rising markets that fuelled the wealth industry, APB Insights’ new India 2022 League Table showed. In this year’s league table, the country’s total AUM rose nearly 5%, or US$24 billion, to US$504 billion. In addition, US$51 billion of net new money was […]

The post India’s private banking industry hits US$500bn: Three key takeaways appeared first on Asian Private Banker.

This is a sponsored article from 360 ONE. Karan Bhagat, Founder, MD & CEO, 360 ONE. In the dynamic landscape of India’s wealth management industry, significant growth and transformation are underway. Driven by shifting demographics, the transfer of generational wealth, and the increasing influence of millennial high-net-worth individuals, this sector is experiencing a paradigm shift. As India emerges as a […]

The post Six trends to watch in Indian wealth management appeared first on Asian Private Banker.

HSBC Global Private Banking (GPB) has officially re-opened its onshore operation in India in a bid to break into one of the fastest-growing economies in the world. Having exited the market in 2015 after a strategic review, the decision to re-enter demonstrates HSBC GPB’s commitment to becoming a leading wealth manager in Asia, according to Siew Meng Tan, regional head of […]

The post “Another piece of the puzzle”: HSBC’s Siew Meng Tan on re-entering onshore India appeared first on Asian Private Banker.

The shock merger of Credit Suisse and UBS has shaken the world of private banking, with questions being raised as to the future of overlapping business interests and competencies between the two banks. As the dust settles, another conundrum arises: what next for Credit Suisse’s onshore businesses? Asian Private Banker spoke to industry insiders to find out. All eyes on UBS […]

The post What next for Credit Suisse’s Asia onshore businesses? appeared first on Asian Private Banker.

Between bank runs in the US, war in Europe and confusion about China’s next policy pivot, private bankers are struggling to figure out where best to find shelter from these financial storms. They could do worse than look to India, a giant economy that seems at some remove from 2023’s myriad landmines, argued Himadri Chatterjee, a founding senior partner at […]

The post Why India may be a safe haven for private banks in 2023 appeared first on Asian Private Banker.

HSBC Global Private Banking (GPB) has announced plans to re-enter the India onshore market in 2023. “We have been proactively looking at how we can bring private banking into India, and this is something that we are currently working on, and we are going to launch in 2023,” Siew Meng Tan, regional head of HSBC GPB, Asia Pacific, said in […]

The post HSBC GPB’s Siew Meng Tan announces plan to re-enter onshore India in 2023 appeared first on Asian Private Banker.

Credit Suisse has hired a senior relationship manager for the Non-Resident Indian (NRI) market, according to an internal memo seen by Asian Private Banker. Based in Singapore, Neeraj Arora joined the Swiss bank on 13 March as director, relationship manager for the NRI market. He will report to Bikram Sen, managing director and team leader for the NRI market. Arora […]

The post Credit Suisse hires RM for NRI market from Julius Baer appeared first on Asian Private Banker.

LGT Wealth India, part of the Liechtenstein-based boutique private bank LGT, has appointed three senior leaders to its management team to bolster its growing business. Nikhil Advani has joined the firm as managing director for international business, responsible for strengthening and leading the global investing platform along with the international business segments. Advani came from Bank of Singapore, where he […]

The post LGT Wealth India makes three senior appointments appeared first on Asian Private Banker.

This is a sponsored article from PineBridge Investments. Authors Omar Slim, CFA, co-head of Asia ex-Japan fixed income and portfolio manager Andy Suen, CFA, FRM, co-head of Asia ex-Japan fixed income and portfolio manager Elizabeth Soon, CFA, head of Asia ex Japan Equities Huzaifa Husain, head of India Equities Cynthia Chen, CFA, portfolio manager, Asia ex Japan Equities After finally […]

The post 2023 Asia ex Japan fixed income and equity outlook: Selectivity fuels performance appeared first on Asian Private Banker.

Julius Baer has strengthened its onshore India team with five new hires, the firm said on Thursday. Based in New Delhi, Akul Juneja will focus on growing the firm’s business in the city and expanding into new client segments across Northern India. He will report to Vrinda Mahadevia, Julius Baer India’s head of wealth management. Juneja has over 22 years […]

The post Julius Baer targets Indian expansion with five new recruits appeared first on Asian Private Banker.

The rise of Indian families with a more global outlook has created a surge in demand for wealth management (WM) services in one of the world’s fastest growing economies. LGT is determined to seize the opportunity. “The wealthy Indian families are definitely globalising, especially at the top of the pyramid. The next generation is looking out to study abroad, and […]

The post How LGT plans to seize the opportunity in India appeared first on Asian Private Banker.

An outlook for robust economic growth alongside government reforms are behind Indian firm ASK Private Wealth’s (ASK PW) decision to increase its clients’ domestic equity allocation and to lift its long-term US and China holdings, especially in private equity and real estate. “India has and will continue to benefit from the global situation for various reasons – stable government, continued […]

The post Why this wealth advisor thinks US and China alts are essential to HNWI portfolios appeared first on Asian Private Banker.

India will need to invest up to US$20 trillion to meet its ambitious energy transition and sustainability targets, according to the chief investment office of Deutsche Bank’s private bank. At the UN Climate Change Conference (COP26) in Glasgow in 2021, the South Asian country committed to achieving net-zero carbon emissions by 2070. At COP21 in Paris in 2015, India pledged […]

The post How much will India’s energy transition cost? US$20T, says Deutsche Bank IPB appeared first on Asian Private Banker.

Moonfare will allow eligible private investors in India to access private equity funds at an entry minimum of US$60,000, as the Berlin-based digital investment platform takes its first steps into the South Asian market. The move marks the latest expansion by the group, which is now present in 23 countries across Europe, Asia, America and the Middle East, with a […]

The post Moonfare to enter India in digital PE platform’s latest expansion appeared first on Asian Private Banker.

The greatest barriers around ESG investment in India are data and the lack of professionals with the right skillset to make sense of that data, according to Soumya Rajan, founder and CEO of Waterfield Advisors, an Indian multi-family office that advises on over US$4.3 billion of assets. Today in India, only one in five companies actually put in Scope 1 and Scope 2 emissions, and only 63 out of […]

The post ESG 2.0 – We don’t know enough about ESG: Waterfield Advisors CEO on India appeared first on Asian Private Banker.

ESG investing is attracting growing interest from private banks and their clients across Asia-Pacific – and India is no exception. However, familiarity with the topic in the South Asian country remains nascent compared to other parts of the region. Below, Rajesh Cheruvu, CIO of Validus Wealth, shares with Asian Private Banker five key ESG themes to watch in the coming […]

The post Five ESG trends in India that private banks need to know about appeared first on Asian Private Banker.

Standard Chartered Private Bank has appointed a new head for India, the UK lender confirmed with Asian Private Banker. Pankaj Walia, a StanChart veteran of nearly 20 years, was promoted to the role in June. He reports to Nitin Chengappa, head of affluent, deposits and non-resident Indians. Walia replaces fellow veteran Aman Rajoria, who held the India private banking head […]

The post Standard Chartered appoints new PB head for India appeared first on Asian Private Banker.

While HY bonds from China real estate developers remain in the doldrums, T. Rowe Price is recommending investors consider credit from other Asia nations, especially Indonesia and India. At a media briefing on Tuesday, the US asset manager said investors could gain clarity about inflation in 4Q22. “China’s economic outlook could be surprising as policy support is taking effect gradually, […]

The post There’s more to Asia credit than China real estate: T. Rowe Price appeared first on Asian Private Banker.

The economic drama emanating from India makes for a fascinating split-screen. On one, inflation, COVID-19 risks and political gridlock have investors on edge. On the other, one of the world’s greatest IPO spectacles is turning heads everywhere. Last year, Asia’s third-largest economy added 46 new “unicorns” to a startup ecosystem that is only just coming to fruition. That more than […]

The post Why ICICI Bank Private Banking is at the head of India’s unicorn stampede appeared first on Asian Private Banker.

Avendus Wealth Management (Avendus WM) is planning to hire up to 20 relationship managers by the end of 2022 to tap into what could be a pool of US$5.5 trillion by 2025. Managing director & CEO Nitin Singh told Asian Private Banker that the company currently has a team of 50 RMs, both inside and outside India. “By the end […]

The post Seeing solid wealth growth in India, Avendus WM adding up to 20 RMs appeared first on Asian Private Banker.

Singapore-based IAM Lighthouse Canton has rolled out its first India-focused VC fund to zero in on the opportunities offered by the vibrant startup market in India. Lighthouse Canton in February formed a strategic partnership with Delhi-based VC firm Nueva Capital to launch the LC Nueva Alternative Investment fund for global investors. The Indian startup market has developed into one of […]

The post US$3B Singapore IAM taps into thriving Indian startup ecosystem with first VC fund appeared first on Asian Private Banker.

PGIM Investments has hired a vice-chairman for Asia to lead its asset management businesses and joint venture in the region. Based in Hong Kong and effective 7 April, David Chang will oversee PGIM’s asset management businesses in India, Taiwan and PGIM’s joint venture in mainland China, in addition to supporting the growth of the global intermediary business in Greater China, […]

The post PGIM Investments hires Asia vice-chair to drive retail markets in India and Greater China appeared first on Asian Private Banker.

Indian U/HNWIs are looking to complement their allocations to local equities with greater investments in private markets and offshore strategies, according to private bankers and asset managers. With US$8.3 trillion in household wealth, India is the world’s sixth largest wealth market behind the US, China, Japan, Germany and the UK, with around 330,000 millionaires, according to the NWWealth India Wealth […]

The post Indian U/HNWIs boost investments in private markets and offshore assets appeared first on Asian Private Banker.

After exiting its Indian onshore wealth management business in 2020, BNP Paribas is expanding its presence in the country’s asset management market with a new partnership, Asian Private Banker has learnt. The wealth manager’s €537 billion fund management unit has joined forces with Bank of Baroda, the second largest state-owned lender in India, to form Baroda BNP Paribas Mutual Fund. […]

The post BNP Paribas to form US$3B asset management JV in India appeared first on Asian Private Banker.

The pandemic impact on economic activities in South Asian countries can leave wealthy clients in need of additional liquidity to support their business. Deutsche Bank Wealth Management says its onshore presence in India has become its edge in serving South Asian UHNWs on rainy days, as it allows the bank to lend against onshore collateral after due diligence. Reflecting a […]

The post Our onshore India presence sets us apart in cross-border financing for South Asian clients: Deutsche Bank WM appeared first on Asian Private Banker.

Standard Chartered Bank (India) has named a new head of wealth management this week. Effective 1 March, Saurabh Jain will report to Kusal Roy, head of Consumer, Private and Business Banking (CPBB) for India, and Eugene Puar, head of wealth management for ASEAN, South Asia, and Singapore. Jain is a wealth management and private banking veteran with over 20 years’ […]

The post Standard Chartered names new India WM head appeared first on Asian Private Banker.

As India is undergoing long-term economic developments, it has become the second-largest weighted country for Phil Lee, the head of Asia Pacific research at Mirae Asset Global Investments. Lee is the lead portfolio manager of the US$335 million Mirae Asset Asia Growth Equity Fund which invests in high growth industries such as electric vehicle (EV) batteries, solar, wind, smart grid, […]

The post India a breeding ground for growth stocks: Phil Lee of Mirae Asset appeared first on Asian Private Banker.

Two senior private bankers at Citi Private Bank responsible for coverage of the India and Indonesia markets are leaving their positions, people familiar with the matter told Asian Private Banker. Varun Chugh, managing director and global market manager – Global India, and Simon Kastono, global market manager – Indonesia, are both departing the US lender, according to multiple sources. A […]

The post Citi PB’s India and Indonesia market leaders to depart appeared first on Asian Private Banker.

Mumbai headquartered Cervin Family Office has hired an associate director based in Delhi, Asian Private Banker has learnt. Vivek Shrivastava has joined the firm in the client engagement team and will manage large family office and UHNWI clients. “Vivek brings in a multi-faceted experience and is a valuable addition to the family,” founder and CEO Munish Randev told Asian Private […]

The post Indian multi-family office adds associate director in Delhi appeared first on Asian Private Banker.

Credit Suisse has appointed a new team leader for the NRI market, according to an internal memo seen by Asian Private Banker. Based in Singapore, Bikram Sen has been appointed as managing director and team leader for the non-resident Indian (NRI) market. Sen joins from Bank of Singapore, where he worked for eight years, most recently as team head for […]

The post Credit Suisse nabs BoS NRI business head as new team leader appeared first on Asian Private Banker.

Deutsche Bank Wealth Management has announced a string of hirings in India across relationship management and investment advisory. Rajasekar Ayyalu has been appointed as director, based in Chennai. In his new role, he will be responsible for expanding and deepening Deutsche Bank’s presence in that region. He joins from Julius Baer, where he was executive director (investments). He has also […]

The post Deutsche Bank WM on hiring spree in India appeared first on Asian Private Banker.

More global Indians are increasing their investment into their ancestral homeland, according to HSBC’s Richa Goswami, with one big motivation being participating in the country’s economic recovery from COVID-19. The bank’s global head of customer and international, wealth and personal banking said the Indian diasporas — an important demographic for private banks — are finding a way to invest in […]

The post Global Indians boost investments in homeland to fuel recovery from COVID-19: HSBC appeared first on Asian Private Banker.

Driving the affluent business of Standard Chartered India are a focus on its One Bank approach and digital enhancements that address client needs, said Nakul Jain, managing director, private banking, priority and deposits, Standard Chartered India. Jain asserted that the affluent, priority and private bank business in India is now in a “sweet spot”, with the bank having merged its […]

The post Holistic approach and digital tools power growth of StanChart India’s affluent business appeared first on Asian Private Banker.

Standard Chartered Private Bank India is advising clients to diversify away from large-cap equities in their portfolio allocations because of the recent rally in the country’s shares. Despite pulling back, the BSE Sensex is hovering around the record 60,000 mark, having risen by 10,000 points since January. That helped the 30-stock benchmark maintain India’s outperformance over Asian peers, making it […]

The post India’s U/HNWIs should diversify away from large caps: StanChart PB appeared first on Asian Private Banker.

UBS remains bullish on Asian high-yield debt despite mounting troubles at China Evergrande, the country’s second largest property developer by sales. In its 4Q21 outlook, the UBS Global Wealth Management Chief Investment Office said the spread in the segment has widened over the benchmark even as Evergrande’s dollar bonds trade at around 20 cents on the dollar. The spread between […]

The post Don’t let Evergrande worries wean you off Asian high-yield: UBS GWM CIO appeared first on Asian Private Banker.

China’s domestic equities are poised for a windfall as the government nudges household wealth away from property and into onshore capital markets, a senior private banking executive has said. “I might point out [that] a new stock exchange is being set up in Beijing,” said Mark Matthews, Julius Baer’s head of research, Asia Pacific, in a call with reporters on […]

The post China’s markets poised for a windfall: Mark Matthews of Julius Baer appeared first on Asian Private Banker.

Edelweiss Wealth Management (EWM) Thursday said it plans to raise about US$1 billion from its pre-IPO and late-stage private equity (PE) focussed series of funds as alternative investing gains traction among the U/HNWI in India. The Crossover Series III A fund, launched in March this year, got final commitments of over US$200 million taking the total for the Crossover Series […]

The post India’s Edelweiss WM aims to raise US$1 billion for pre-IPO, late-stage PE funds appeared first on Asian Private Banker.

With India joining other emerging markets in lowering rates to cushion the economic fallout of the COVID-19 pandemic, the demand for alternative investments has stoked among U/HNWIs, according to Indian wealth manager IIFL Wealth. “There are a lot of interesting investment opportunities that are unavailable in traditional asset classes such as listed equity and fixed income,” Gaurav Awasthi told Asian […]

The post Stars align for alternative investments in India: IIFL Wealth appeared first on Asian Private Banker.