Page 3 - Wealth Management

Bain Capital backed 360 One WAM to acquire B-K Securities for $205 million

The number of individuals with more than $30 million of assets is expected to grow by 50% between 2023 and 2028, according to a Knight Frank wealth report

Nomura hires Sudhir Nemali as international wealth chief operating officer

Nemali, who has over three decades of wealth management experience, is joining from Deutsche Bank, where he was most recently the chief operating officer for wealth management

Key Financial Planning Tips Before Starting Your Career

In this episode of Manager’s Mantra, Harsh Gahlaut, Founder & CEO of FinEdge, shares expert advice on launching businesses, managing global teams, and mastering personal finance.

DAM Capital IPO receives 6.98 times subscription on Day 2 of offer

The initial public offer of investment bank DAM Capital Advisors Ltd received 6.98 times subscription on the second day of share sale on Friday. The IPO got bids for 14,52,54,503 shares against 2,08,04,632 shares on offer, as per data available with the NSE. Non-Institutional Investors part received 11.49 times subscription while the category for Retail Individual Investors (RIIs) got subscribed 8.96 times. Qualified Institutional Buyers (QIBs) garnered 7 per cent subscription. The initial share sale of DAM Capital Advisors Ltd got fully subscribed hours after opening for bidding on Thursday. DAM Capital Advisors on Wednesday said it has raised Rs 251 crore from anchor investors. The initial share sale, with a price band of Rs 269-283 per share, will conclude on December 23. The IPO is solely an offer for sale (OFS) of 2.97 crore equity shares worth Rs 840.25 crore, by a promoter and investors at the upper end of the price band. Those selling shares in the OFS are promoter Dharm

BoI to attract high net-worth individuals to counter deposit woes: CEO & MD

Open to joint venture or inorganic acquisition of mutual fund unit

360 One Wam launches 22.2 million new shares worth Rs 2,250 crore via QIP

The QIP will lead to dilution of 6.1 per cent of pre-issue outstanding equity capital

Bain-Backed 360 One's Co-CEO Taparia to depart amid wealth management boom

360 One confirmed Taparia's departure, saying he tendered his resignation last month and a smooth transition is underway

Axis Bank expands wealth management services across 15 new cities

Axis Bank on Monday said its private banking business Burgundy Private will expand its wealth management services to 15 new cities, increasing its presence to 42 locations across India. With this strategic move, Burgundy Private will now offer its bespoke wealth management services tailored to the unique needs of discerning clients in India's rapidly evolving Tier 2 markets, Axis Bank said in a statement. The new locations, to start with, include Bhubaneswar, Patna, Raipur, Agra, Ghaziabad, Jodhpur, Udaipur, Jalandhar, Meerut, Belgaum, Kozhikode, Thiruvananthapuram, Aurangabad, Nagpur, and Gandhidham, it said. By leveraging its expertise, technology, and data analytics, Burgundy Private aims to deliver personalised solutions that meet the evolving expectations of affluent clients in these emerging geographies, it said. Burgundy Private has an AUM of nearly Rs 2.07 trillion, a 33 per cent increase YoY, and currently manages wealth for over 13,000 families across 27 cities.

Sanlam eyes India wealth management after BlackRock, Jio join contest

Insurer plans to build out its partnership with Shriram Capital Group in India by adding an equal joint venture covering wealth and advice services, doubling down on an initial 2005 investment

How B-schools can shape your career in finance

In this episode of Manager's Mantra, we are joined by Mr. Vishal Bajaj, CA, CS, and MBA, who is the Director - Wealth at Client Associates, a leading wealth management firm.

Edelweiss founders divest stake in Nuvama Wealth Management after demerger

Nuvama Wealth Management was listed on the BSE and NSE in September 2023, following the demerger of Edelweiss Financial Services' wealth management business

HDFC Bank taps retail bankers as wealth managers amid talent crunch

Mumbai-based HDFC's wealth business has about 800 relationship managers serving customers in about 100 cities and towns

Volatile market: Motilal Oswal explains how to invest in equity, debt, gold

The recent Budget provided a fillip to Multi Asset Allocation funds, which invest in equity, debt and gold, and should be considered as a superior alternative to traditional fixed income

Axis Bank expands wealth management biz rapidly in non-metro cities

Some of the new cities the bank has added include Patna, Raipur, Ghaziabad, Jodhpur, Udaipur, and Meerut

Hong Kong billionaire Adrian Cheng expects city to become top wealth hub

The semi-autonomous Chinese territory is trying to regain its stature as a global financial hub following years of draconian Covid-19 restrictions and a sweeping crackdown against political dissent

Neo Group raises $47.6 million led by MUFG Bank, Euclidean Capital

The capital raised will be used to expand the company's wealth management division and support its asset management business

SBI pushes into wealth management with vigour as wealthy people surge

SBI will face competition from global players like HSBC Holdings Plc and Barclays Plc, and local veterans like 360 One WAM Ltd

Brokerage firm Angel One invests Rs 250 cr in wealth management arm

Brokerage Angel One on Wednesday announced a Rs 250 crore investment into its wealth management arm with an eye to capitalize on the growing affluence in the country. The capital will be deployed to develop core technological infrastructure, leveraging AI and analytics, expand presence in key markets and develop product strategies, as per an official statement. Angel One Wealth has three business verticals, including HNI (high net-worth individuals), UHNI (ultra HNI) and alternate assets, it said. "Through Angel One Wealth we aim to cater to an expansive spectrum of clients, by leveraging technology and staying at the forefront of innovation," Angel One's chairman and managing director Dinesh Thakkar said. It can be noted that some of its peers, including IIFL, already have successful wealth management arms. The Angel One statement said there has been a rapid increase in the HNI population in the country, and is pegged to grow 16 per cent every year to 16.5 lakh by 2027. The com

Wealthy Nivesh Takes its Tech-Driven Wealth Management to Dubai and the Middle East

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Exploring real estate investment opportunities abroad? Know key risks here

From a financial standpoint, the allure of diversifying, tax benefits, capital appreciation, and enjoying favourable rental yields serves as compelling incentive for investment in real estate