Page 4 - Wealth Management

IIFL Securities Q4 result: Net profit more than doubles to Rs 180 cr

IIFL Securities on Friday announced its net profit more than doubled to Rs 180.4 crore in three months ended March 2024 driven by strong growth in all the business segments. In comparison, the company had posted a net profit of Rs 86.4 crore in the year-ago period, IIFL Securities said in a statement. Total income surged 74 per cent year-on-year to Rs 704.4 crore for the quarter under review from Rs 405.2 crore in the January-March quarter of the FY 2022-23. "We witnessed strong growth in all our business segments. Our institutional broking and investment banking franchise has significantly improved their competitive position with stellar operating performance. Indian capital market businesses will continue to witness secular growth given multiple tailwinds over the next decade," "Venkataraman, Chairman, IIFL Securities, said. The company's board of directors in its meeting in March approved an interim dividend of Rs 3 per equity share of the face value of Rs 2 each for the financi

Nomura to nearly double profit over 7 yrs with focus on wealth management

Nomura has built out a dedicated team to tap into Asian markets, hiring more than 70 private bankers over the past three years

Will the stock market fall ahead of Lok Sabha poll outcome on June 4?

A well-diversified portfolio and a long-term investment horizon remain the best strategy for navigating election-related volatility and achieving financial goals, said Abhijit Bhave of Equirus Wealth

Wealth management, entertainment, health spends grow in FY24: Razorpay

Spending on dieticians has more than doubled during the same time, while health coaching recorded a 45 per cent increase in transactions

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