State Bank of India, the country’s largest lender, plans to offer wealth management services to its affluent clients, chairman Om Prakash Bhatt said at the bank’s annual meeting of shareholders. (more…)

Morgan Stanley plans to hire 10-20 advisors at its Indian private bank arm over the next 12 months, an increase of up to 50 %, as wealth managers scramble to expand in Asia’s third biggest economy. (more…)

Manulife Chief Philip Hampden-Smith says if new regulations come in and the co progresses in its talks with India, it can start looking at distribution models that reflect the new paradigm (more…)

Sarasin Alpen (India) named Shiv Khazanchi as its Managing Director to head its India operations. Shiv Khazanchi will be based out of Sarasin Alpen’s New Delhi office. In addition to his responsibilities as Head of Sarasin Alpen, India, Shiv Khazanchi will also oversee the operations of Alpen Capital India Private Limited, the investment banking associate of Sarasin Alpen. (more…)

Swiss private banks are continuing to ramp up their presence in Singapore – encouraged by Asia’s economic boom and Europe’s tax clampdown – with two firms joining a raft of their peers in mounting a push into the high-growth region. (more…)

State Bank of India, the largest lender of the country, is looking at wider avenues to improve its efficieny and growth in the customer segment. The bank has implemented the concept of Super Circle of Excellence (SCE) in order to focus on selective branches of the bank so that it can indulge in increased growth, efficiency and high quality of customer service. (more…)

Royal Bank of Scotland is in talks to sell its Indian commercial and retail unit to HSBC, Bloomberg reported, citing two people with the knowledge of the situation. (more…)

Standard Chartered Private Equity plans to invest in three to four Indian firms by the end of this year and sees opportunities in acquisition financing in Asia’s third-largest economy, a top official said . (more…)

Wealth managers are optimistic about exchange traded funds (ETFs) and are suggesting to their clients to go for these due to the low-cost structure, low tracking error and easy to transact feature. ET simplifies the ETFs available to Indian investors and tells how to go about investing in them. (more…)

Forbes India recently unveiled its India Rich List in Bangalore with a panel discussion on the topic ‘Purpose of Wealth’. The panel comprised an interesting mix with spiritual guru Sri Sri Ravi Shankar and GV Krishna Reddy, Chairman of GVK Industries, sharing the dais and Subroto Bagchi, Co-founder of Mindtree Consulting as the moderator. (more…)