Wealth managers chase India’s burgeoning rich
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|
|Full results index|
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.