Axis, Rothschild to offer wealth mgmt

Axis Bank, erstwhile UTI Bank, has tied up with Banque Privee Edmond de Rothschild Europe to offer wealth management services to non-resident Indian clients.

The agreement was signed in Luxembourg. Rothschild, will provide its expertise in wealth management solutions, while Axis Bank will be the custodian of the relationship with the customer.

Wealth management is an area of focus for Axis. The new generation private sector bank will offer the joint product through its branches in Hong Kong, Singapore and the Dubai International Financial Centre. The LCF Rothschild Group is present in over 19 countries with over 30 offices.

PJ Nayak, chairman and chief executive officer, Axis Bank, "As we have embarked on creating an international franchise for the bank, a key aspect of our international strategy is to focus on financial advisory services and wealth management solutions for overseas Indians.''