BNP to Launch Indian Wealth Management Initiative

Paul Das

20 September 2005

Cortal Consors, the stockbroker arm of BNP Paribas, said it is planning to launch a wealth management initiative in India, targeting high net worth individuals with incomes of more than $200,000. Cortal said it will focus on portfolio management services and provide investors with a web-based trading platform. The new initiative is the first time Cortal has targeted investors outside of Europe. Cortal will face competition from local stockbrokers, including ICICI Direct, Indiabulls, Kotak Securities and Sharekhan. Online trading is growing in popularity in India, buoyed by a strong local equity market.