Emerging Markets

India's WGC Steps Up Wealth Game With Hiring Charge

Editorial Staff 25 July 2018

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.

Register for WealthBriefing today

Gain access to regular and exclusive research on the global wealth management sector along with the opportunity to attend industry events such as exclusive invites to Breakfast Briefings and Summits in the major wealth management centres and industry leading awards programmes