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Local wealth managers push to grow as foreign rivals struggle

Reuters  |  Mumbai 

India's homegrown wealth managers are hiring more staff and expanding in smaller cities, seeking to attract rising numbers of newly minted millionaires as high costs and regulatory restrictions drive some global rivals to scale down. India last year was the world's fastest growing wealth management market, according to a CapGemini and RBC Wealth Management study published in June, spurred largely by rising personal income as well as a boom in e-commerce start-ups that has also attracted foreign investors such as Japan's SoftBank Corp and Singapore's Temasek Holdings. To ...

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First Published: Wed, September 02 2015. 22:41 IST