Wealth managers chase India’s burgeoning rich

Wealth managers chase India’s burgeoning rich

February 03, 2011

Domestic banks and well-established foreign rivals are fighting hard for a share of a high-net-worth asset base expected to grow at double-digit rates. With foreign banks’ involvement in the global crisis fresh in potential clients’ minds, domestic banks might just have the edge. Elliot Wilson reports.

Private Banking and Wealth Management Survey 2011

Press release

Features

Private banks rebuild trust and sharpen their focus

The ins and outs of open architecture

Model portfolios – a private banking solution?

Regaining trust, restoring returns

Brazil’s private banks compete head-on for risk-averse clients

Private banks set Russian growth agenda

Wealth managers chase India’s burgeoning rich

Foreign and local banks battle for China’s golden generation

The Survey

Full results index

Methodology

FEW NATIONS INSPIRE as much devotion mixed with confusion among private banks as India. It isn’t growing as fast as China but it is creating vast new wealth at an astounding rate – money increasingly concentrated in the hands of a few hundred billionaires, and a thousand times as many dollar millionaires.

So it is little wonder that Euromoney’s private banking and wealth management survey 2011 is such a tight-run thing in India, with local financial groups fighting fiercely with global houses for clients, territory and respectability.

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Topics

Asia Pacific Banking Wealth Features February 2011

Elliot Wilson

Asia editor and Global Private Banking and Wealth Management editor

Elliot Wilson is Asia editor and Global Private Banking and Wealth Management editor. He joined the magazine in 2020 having been a regular contributor focusing on China and the Indian subcontinent, Russia and Eastern Europe/the CIS. He is based in Hong Kong.