StanChart looks to raise wealth management game in India

UK-based Standard Chartered Bank is looking to up its wealth management play in India, hiring more relationship managers and giving a facelift to several branches in a market that has recently attracted strong interest from global and domestic money managers.

- Shayan Ghosh

"India is a huge opportunity for the wealth business and in the next decade, the amount of wealth that will get created in India will possibly be the highest in any of our footprints," Samir Subberwal, global head of wealth solutions, deposits and mortgages, and chief client officer, Standard Chartered Bank, said in an interview on Tuesday. "In India, we are pivoting more towards affluent clients and wealth management."

According to Subberwal, who transitioned to the role in April, the bank will improve the look and feel of its branches in order to handle more affluent clients. The bank, he said, will also hire more relationship managers and wealth advisers and will "materially scale up" the business in India.