Page 5 - Wealth Management

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

OCCRP-flagged funds see India exposure drop from $430 mn to zero in 6 years

Their investment manager says EIFF, and EMRF both fully compliant broad-based funds

Wealth management firms go beyond metros to tap post-Covid surge in demand

Investors from tier-II are increasingly roping in services of wealth managers, as they diversify beyond gold and real estate

SBI to revamp Wealth Management biz, rope in consultant to firm up roadmap

Plans to grow by three-fold from current Rs 2.95 trillion

360 One Asset Management raises Rs 2,130 cr for latest private credit fund

The fund will lend to financially solvent companies and will now take exposure to distressed situations. It has a lifespan of three years

Credit Suisse crisis likely to make rich Indians wary of wealth managers

"In the past 15 years or so, many multinational financial institutions have come and exited Indian markets and the latest incident was making wealthy investors nervous"

Are the ultra-rich ready for Singapore after Credit Suisse's collapse?

If it looks like the US is halting its monetary-tightening campaign because disinflation is on the horizon, risk sentiment may start improving

Wealth of prosperous Asians to reach $4.7 trillion by 2026: McKinsey report

A McKinsey analysis has revealed that the wealth pool of this group is projected to hit $4.7 trillion by 2026, up from $2.7 trillion in 2021, thanks to the rise in their incomes

Emerging markets face risk of policy error amid conflicting priorities

Emerging markets have witnessed an investor exodus this year despite having raised interest rates at an unprecedented pace

Inheritance rights of adopted children vary on the basis of religion

Hindu and Christian personal law treat adopted child on a par with natural-born ones

Amazon to delist Appario as seller, renews Frontizo JV for 3 years

The development comes at a time when Cloudtail, once the largest seller on Amazon's India marketplace, shut operations on the e-commerce platform as a seller this year amid regulatory pressure