The government is all set to allow Credit Suisse to launch banking operations in India, indicating that the political heat over black money stashed away in Swiss bank accounts would not come in the way of providing market access to such banks in the country. (more…)
Religare Enterprises on Tuesday said its group firm—Religare Macquarie Private Wealth and Macquarie Investment Services—would start a new investment service in India that targets the high networth individuals (HNIs). (more…)
Morgan Stanley is set to launch wealth management services for the super-rich in India — for people with an investable surplus of at least $1 billion, the Business Standard reported on Wednesday. (more…)
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After having a minor presence in India for more than three decades, French banking group Societe Generale (SocGen) is now counting on India along with China to offer major growth opportunities in the next three to five years. (more…)
U.S. financial firm Goldman Sachs and Swiss rival Credit Suisse are seeking banking licenses in India to expand their product offerings, the Economic Times newspaper reported on Tuesday. (more…)
Credit Suisse, a financial services company, headquartered in Switzerland may soon set up its first branch in Mumbai. (more…)
Indian wealth managers are set to jumpstart hiring and revive expansion plans as a rebound in domestic shares mints millionaires once again, creating fertile hunting ground for new clients. (more…)
Indian multi-family office Altamount expects assets under supervision to double to 10 billion rupees ($206 million) in six months as it taps the growing rich as well as non-resident Indians, a top aide said. (more…)
Indian banks no longer see a threat in the foreign counterparts, due to the inadequate strategies. “Unless they bring in a lot more money and come up with a completely differently strategy, the foreign banks are no serious competition,” said Aditya Puri, HDFC Bank, Managing Director. (more…)
With the demand for credit expected to shoot up, private banks are bolstering core capital. Seven of them are in the process of raising a cumulative Rs 10,500 crore in equity to fund expansion, which, in some cases like Axis Bank’s, includes entry into mutual fund, private equity and wealth management businesses. (more…)