The world’s population of high net worth individuals (HNWIs) grew 17.1% to 10.0 million in 2009, returning to levels last seen in 2007 despite the contraction in world gross domestic product (GDP). (more…)

India’s billionaires have seen their wealth swell more than their US counterparts in 2009 according to Forbes India rich list, in a further sign that the subcontinent is recovering faster than western economies. (more…)

Kotak Mahindra Bank has emerged as one of the leading players in the private banking space in India. Disclosing its assets under management for the first time in an interview to ET NOW, C Jayaram, executive director of Kotak Mahindra Bank, said: “We have emerged as one of the leading players in the industry with assets under management in the range of Rs 13,000 crore.” (more…)

Kotak Mahindra Bank said it added more than $200 million in client assets at its Indian wealth management arm in the last three months and aims to expand total assets by 25-30 percent to about $3.5 billion in a year. (more…)

A couple of years before some of the world’s largest investment banks ICICI Bank forayed into investment banking. It was drawn by the large fee-based income to be earned by helping Indian companies raise money for overseas acquisitions. (more…)