Page 2 - Wealth Management

Jio Financial-BlackRock JV to launch wealth management, broking business

The two firms had earlier inked a tie-up in July 2023 to step into the over Rs 50 trillion mutual fund market in India

Stick to planned allocation, no asset class merits going overboard: Shanker

Shanker discusses how the wealth management firm is rebalancing client portfolios and scaling back small and midcap allocations to desired levels

Wealth managers advise clients to reduce their exposure to smallcaps

Somnath Mukherjee of ASK Private Wealth says the risk in the smallcap space has more to do with the enhanced regulatory scrutiny and the slowdown in profit growth

UBS starts job cuts at HK, Singapore wealth units after profit slump

Wealth generation in China has stalled as the nation's economy struggles to regain momentum amid a property crisis and a selloff in equities

Julius Baer Group fills several key roles amid India wealth surge

Abhishek Chandra, formerly a senior executive vice president at Kotak Mahindra Bank, has joined as chief operating officer of the Swiss firm's Indian unit, the bank said in a statement Monday

Angel One, Kotak Mahindra Bank arm executives to launch wealth mgmt biz

Srikanth Subramanian, the former chief executive of Kotak Cherry, will be the co-founder and chief executive of Angel One Wealth, an official statement said

StanChart to continue focus on wealth management in India: Senior executive

Credit card 'core business' but will avoid competing with the country's private banks, says Kusal Roy

Shriram Group to enter wealth management in FY25, awaits RBI's nod

The group plans to launch its wealth management business through Shriram Credit, a subsidiary of Shriram Capital

Former Credit Suisse wealth executive Sandipan Roy joins Motilal Oswal

Sandipan Roy will be chief investment officer for the private wealth business, reporting to Ashish Shanker who heads the unit, according to a spokesperson for Motilal Oswal

CoinSwitch unveils umbrella brand PeepalCo; aims for wealth-tech expansion

The company said the leaders of each business segment will have independent operational and financial accountability

HSBC hires UBS's Gautam Anand for role serving India's rich diaspora

Gautam Anand was appointed Global Coordinator for Global India, the Middle East, North Africa and Europe from Dec. 1, according to an internal memo seen by Bloomberg News

360 ONE Wealth ropes in Satheesh Krishnamurthy as CEO of HNI business

The company said Krishnamurthy's key responsibilities will include identifying new business opportunities, distribution footprint, product stack, and developing financial strategies

High US bond yield 'negatively impacts' India's appeal: Umang Papneja

Country's growth and market dynamics continue to make it an appealing investment destination, says CEO of Julius Baer India

Morgan Stanley's wealth business under US Fed's scrutiny over lapses

The bank's top regulator has been pressing the New York-based firm to improve its processes and controls to prevent wealthy international clients from laundering money

Wealth management firm Neo raises $35 mn in funding from Peak XV Partners

Company will use funding for wealth management business, asset management franchise

Sluggish rural demand, weak volumes dent Marico's stock in second quarter

Revenues in the June quarter (Q1FY24) had declined by 3.2 per cent y-o-y with a subdued performance from the rural segment

Where the rich are going: All about setting up a family office in GIFT City

The financial services hub gives tax breaks and opportunities to make investments

Nuvama Wealth expects client assets growing by 15-20% this fiscal: Kehair

Nuvama Wealth Management, which got listed on Tuesday as the new combined entity of all the listed firms of the Edelweiss Group, expects assets under management growing by an average of 15-20 per cent through the rest of the current fiscal. As of June 2023, it manages over Rs 2.5 lakh crore of client assets and has over 2,700 employees across 90 offices worldwide. "I see the assets under management growing by an average of 15-20 per cent through the rest of the current fiscal ending March. Between March 2023 and June 2023, we added 30,000 crore in our AUM to Rs 2.5 lakh crore," Ashish Kehair, managing director and chief executive of Nuvama Group, told PTI after the listing of the company. Shares of Nuvama Wealth Management rallied more than 5 per cent to close at Rs 2,564.10 on the BSE with a market value of Rs 9,000 crore. The Nuvama Group now comprises all the companies of the Edelweiss group founded by Rakshesh Shah in 1993, barring the insurance and mutual fund businesses, and

Nuvama Wealth Management makes NSE debut; stock settles at Rs 2,612

The company is aiming to double its bottomline in three years underpinned by the growing number of wealthy Indians and their demand for investment solutions

360 ONE launches global platform 360 ONE Global, appoints new team

The 360 ONE Global team, apart from Vikram Malhotra, will have Arunabh Banerjee and Pankaj Nagrath