This will be a first instance of a state run bank getting into the business of wealth management.
The personal banking division of SBI is giving finishing touches to a concept note for the entry of the banking giant into this market.
McKinsey & Co , which is advising SBI for its business process re-engineering, too will help the bank fine tune its private banking services. Beginning as part of the personal banking division, it may be spun off as a separate division.
