India's WGC Steps Up Wealth Game With Hiring Charge

Editorial Staff

25 July 2018

India’s , 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.