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Credit Suisse Expands Wealth Management India Team With Nine Senior Hires
Credit Suisse has a leading wealth management franchise in Asia Pacific, and was most recently ranked the top 2 private bank in the region by industry leading publication Asian Private Banker (“APB”) in its Asia (ex-China onshore) AUM League Tables 2019.
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Credit Suisse today announced the expansion of its wealth management team in India. As part of its commitment to the India market and to enhance the strategy offerings for clients, Credit Suisse has hired a team of nine highly experienced bankers based in Mumbai. All the hires are on board.
Quotes from Puneet Matta and Benjamin Cavalli on our expansion and opportunities in wealth management market in India:
- Puneet Matta, Head Wealth Management India Onshore, said: "We are excited to welcome Ravinder, Brijesh, Ravi and their team to Credit Suisse. Their extensive management and products experience, deep knowledge of the India market, and strong networks will be invaluable to further growing our wealth management franchise in India. There is no better time for us to extend our footprint in India to leverage the boundless wealth opportunities here. As reported in the tenth edition of the Global Wealth Report by the Credit Suisse Research Institute, India’s total wealth has increased four-fold since 2000, to reach USD 12.6 trillion in 2019. India is ranked fifth globally in terms of the number of ultra-high net worth individuals, with 4,460 adults having wealth over USD 50 million and 1,790 having more than USD 100 million, according to Credit Suisse estimates.”
- Benjamin Cavalli, Head Private Banking South Asia, said: “India is a key growth market for Credit Suisse and is a market that we know very well. We have 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.”
Extracts from announcement which can be attributed to Puneet Matta, Head of Wealth Management India, Credit Suisse:
- India is a key strategic growth market for Private Banking South Asia and we have been making good progress in delivering significant enhancements to our banking platform. As part of our growth strategy and commitment to further build on the success of our wealth management franchise to capture new market opportunities, we have hired a team of nine highly experienced bankers based in Mumbai.
- Ravinder Singh joins us as Managing Director and Strategic Client Advisor for India Onshore. Ravinder has over 24 years of wealth management experience with BNP Paribas, Barclays and HSBC India, where he held leadership roles and was instrumental in building relationships with large ultra-high-net-worth families and in delivering successful outcomes and business growth. Prior to Credit Suisse, Ravinder was Managing Director and CEO at BNP Paribas where he led a team of 60 professionals across India and was involved in strategic planning, cross-functional management and business development. His extensive knowledge in wealth management and access to key families in the region will help us acquire new clients, deepen existing relationships and further grow our business.
- Ravi Malani joins us as Director and Senior Product Manager. He will focus on expanding our Private Banking Equity Sales business in India. Ravi is a seasoned Equity Sales professional with 25 years of experience in managing client portfolios, discretionary mandates and equity sales across domestic and foreign institutions. Ravi was previously Head of Equities at BNP Paribas, where he was responsible for the overall equity book and associated revenues as well as for the formulation and execution of the firm’s India equity strategy.
- Brijesh Majali joins us as Director and Team Leader. He has over 18 years of wealth management experience with BNP Paribas and ING Vysya, where he consistently led top performing teams. In his most recent role at BNP Paribas, he was a Team Leader and Senior Private Banker managing a client coverage team.
- The team headed by Brijesh will include three seasoned Relationship Managers and three Assistant Relationship Managers with whom he has worked at BNP Paribas:
- Ashish Teli, Relationship Manager, who has more than 12 years’ experience in wealth management.
- Gautam Jain, Relationship Manager, who brings more than 15 years’ experience in financial services.
- Madhurjya Lahkar, Relationship Manager, with 17 years of banking experience including 13 years in wealth management.
- Ravinder and Brijesh report to Puneet Matta, Head of Wealth Management India. Ravi reports functionally to Carman Tsang, Head of Private Banking Equity Sales APAC, and locally to Sandipan Roy, Head of Products India.
- Credit Suisse has a leading wealth management franchise in Asia Pacific, and was most recently ranked the top 2 private bank in the region by industry leading publication Asian Private Banker (“APB”) in its Asia (ex-China onshore) AUM League Tables 2019. This follows numerous awards Credit Suisse has won for its private banking business, including being named Best Private Bank in Asia Pacific for the fifth time at the APB Awards for Distinction 2019, and Asia’s Best Bank for Wealth Management for the second time at Euromoney’s Awards for Excellence 2019.