Julius Baer remains bullish on its onshore India business, having hired a handful of relationship managers year-to-date, which it believes is critical to its global approach to the segment.
Julius Baer (India) has hired six relationship managers in various locations in 2020 despite the complex challenges derived from the ongoing coronavirus pandemic, according to a statement from the bank.
Three of the six joined in April and May this year including Himanshu Bhagat who was appointed as head of wealth management at Julius Baer Wealth Advisors (India) and a management committee member of Julius Baer (India).
«India is an important market for Julius Baer and the recent expansion of our domestic team attests to the immense potential we foresee in the region,» said Jimmy Lee, head of Asia Pacific and executive board member at Julius Baer.
India Strategy
The bank also continues to strengthen its non-resident Indian offering which complements its onshore expansion by allowing the bank to serve the segment from a holistic, global perspective which it dubs the «Global Indian» approach.
«Increasingly clients in India are looking for global investment opportunities and to address that need, we have launched the Next Generation feeder fund that enables Indian clients to capture the megatrends and next investment themes emerging across the globe,» said Ashish Gumashta, Julius Baer India’s CEO.
In addition, the bank is also seeing returns from various digital initiatives including paperless account-opening and relationship manager tools. Moving forward, the bank will also upgrade its online platform and increased adoption of robotics in its operations.
