The bank has hired a team of experienced bankers from BNP Paribas to form its flagship wealth management team based in Mumbai, as part of its growth strategy and commitment to further build on the success of its wealth management franchise to capture new market opportunities.
Among the nine new hires announced on Tuesday are Ravinder Singh, managing director and strategic client advisor for India onshore. He brings over 24 years of wealth management experience, most recently as managing director and CEO for BNP Paribas in India, and in various leadership roles at Barclays and HSBC India.
Ravi Malani, former head of equities at BNP Paribas, joins as director and senior product manager. He brings 25 years of experience in managing client portfolios, discretionary mandates and equity sales, and will focus on growing the firm's private banking equity sales business in India.
Former BNP Paribas team leader and senior private banker Brijesh Majali also joins Credit Suisse as director and team leader. His team comprises three assistant relationship managers, and three relationship managers with whom he worked with at BNP Paribas: Ashish Teli, Gautam Jain, Madhurjya Lahkar, who bring between 12 and 17 years of experience in wealth management.
Singh and Majali report to Puneet Matta, head of wealth management India, while Malani reports functionally to Carman Tsang, head of private banking equity sales APAC, and locally to Sandipan Roy, head of products India.
Onshore Opportunity
Credit Suisse has been serving clients in India since 2008, providing services that range from financing, debt and capital markets transactions, as well as trading.
«With a strong wealth management team on board with us, we have now deepened and cemented our unique position in this market, where we can deliver comprehensive solutions to our clients for both their personal wealth and their businesses to leverage the long-term potential in India,» Benjamin Cavalli, head private banking South Asia, said, calling India a «key growth market.»
Since 2000, India’s total wealth has surged fourfold to reach $12.6 trillion, according to Credit Suisse Research Institute, and is ranked fifth as a home to UHNWIs. An estimated 4,460 and 1,790 adults have more than $50 million and $100 million, respectively.
