The Association of International Wealth Management of India – AIWMI – has issued a guide for careers in private banking and wealth management, produced at a time of expecting sharp growth in the sector.

“To cater to the growing high net worth, ultra high net worth, expatriate and non resident India population, India currently needs close to 1,00,000 qualified wealth managers,” the report, called Careers in Private Banking And Wealth Management, said. 

“The biggest challenge confronting the Indian wealth management industry is people. As a nascent industry there is a restricted resource pool. At the same time the opportunities in India are luring ever-more wealth management organisations, therefore increasing the demand for people with relevant qualification,” it continued.

Among other highlights of the report’s comments was this: “Given that private banking in India is still relatively new compared with some of the other markets in Asia, there isn’t an organised regulatory framework for the industry. This means the ability to provide an equivalent set of products and services in India takes a lot more time.”

The report can be read in full here.