A former BNP Paribas veteran, most recently a managing director at Pictet, has resurfaced in a new role at a Singapore-based asset manager.
Pictet managing director Reshmi Sehgal has joined Lighthouse Canton, a Singapore-based asset management firm led by former Credit Suisse banker Shilpi Chowdhary, finews.asia can reveal. Sehgal resigned from her role at Pictet in September last year, less than a year after she was hired away from BNP Paribas where she worked for two decades.
Like Sehgal, Chowdhary was a well-known Non-Resident Indian (NRI) banker until 2014 when he incorporated his own asset management firm. Neither could be reached for comment.
Important Segment
For banks in Southeast Asia, family offices of Indian origin are an increasingly important segment. A Campden-Edelweiss report estimates India's 45 onshore registered family offices have an average of $318 million each in assets under management.
The number of family offices registered offshore is exponentially larger, with Singapore and Dubai being the most popular hubs due to their geographical proximity and benign tax regimes.
