Emerging Markets
India's WGC Steps Up Wealth Game With Hiring Charge
The Indian firm is optimistic about the state of the country's wealth management market.
India’s Wadhawan
Global Capital, has hired senior executives from global and
Indian wealth management companies, eyeing the rising affluent
middle class in India, according to the Economic
Times.
WGC Wealth has hired senior executives from Julius Baer, IDFC
Bank and Kotak Mahindra Bank as it builds a brand new team for a
business that is drawing highest valuation among financial
services firms, the publication said.
Some 14 people have come from Julius Baer, 11 have come from IDFC
Bank and nine have been hired by Kotak Mahindra Bank; and WGC has
signed up 70 people across the country. The firm intends to have
hired 100 people by the end of this year, the publication
said.
“With over $400 billion of new savings coming in every year, this
market is just starting up. So far, most of this money used to go
into real estate, fixed deposits, gold and mis-sold insurance.
This is now changing,” Atul Singh, chief executive of WGC Wealth,
was quoted as saying.
