|
Running a successful private banking outfit in India can be a frustrating and expensive experience. Even the strongest bank can find itself stymied by rising costs, complex regulations and a fractured and dispersed customer base.
In recent years, many global private banks have scaled back their business or quit the country altogether. EFG International, Morgan Stanley and UBS closed their local operations in 2014. Merrill Lynch Wealth Management and HSBC followed suit in 2015, along with RBS.
Thanks for your interest in Euromoney!
To unlock this article:
