Religare Macquarie Private Wealth, the wealth management joint venture between India’s Religare Wealth Management Services and Australian bank Macquarie, plans to hire some 800 investment advisors and CRMs in the next three to four years as it expands.

The equal joint venture, which is based in Delhi, currently has a headcount of 160 and is to hire 100 by the end of 2009.

Religare Macquarie Private Wealth currently has Rs5 billion (around $104 million) in assets under management, and is planning to double this figure in the next few years.

The joint venture, which was formed in October 2007, operates in seven Indian cities.