Zurich-headquartered Julius Baer is moving to a new office in New Delhi as part of its growth drive in India.
Julius Baer is moving to a new office in India, according to a statement, located at Worldmark 2, Aerocity in New Delhi.
The office will function as a satellite location and continue to serve clients in the Delhi NCR (National Capital Region) alongside various other locations across North India. As part of long-term commitment to suitability, the office will also feature energy-saving features with advanced infrastructure, central water points and reduced plastic consumption.
«India's wealth sector is valued at $600 billion and growing at a rate of 12 percent annually, yet only a quarter of this wealth is professionally managed,» said Julius Baer India CEO Umang Papneja. «We are delighted to embark on this new chapter for our firm in India to access this opportunity.»
Transformation Strategy
The new office is part of Julius Baer’s broader five-year transformation strategy announced in August 2022. Ambitions include the target of doubling headcount and clients while tripling assets under management during this period.
Currently, Julius Baer employs over 200 professionals in India with a presence in seven key cities. To further enhance its offering in the country, the bank recently applied for an Alternate Investment Funds (AIF) license.
«Our comprehensive range of managed solutions include discretionary portfolio management and wealth planning services to sophisticated clients across North India – a critical market for the firm,» added Rahul Malhotra, head private banking global India & developed market at Julius Baer.
