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ubs exits onshore wealth market in india amid rival expansion

UBS has exited the onshore wealth market in India, selling its local business to 360 ONE WAM for 3.07 billion rupees ($36 million) after inheriting it from the Credit Suisse takeover. This move contrasts with global rivals like LGT and HSBC, which are expanding in India, capitalizing on the country's rapidly growing millionaire population. UBS is instead focusing on China, enhancing its investment banking and wealth management offerings there, while continuing to serve global Indians through its offshore business.
finews.com
Indian Rupee Julius Bär Gruppe AG Credit Suisse Real Estate Fund Siat Barclays PLC IND AUS CHE JPN CHN TWN Kubra Khan Sergio Ermotti Nitin Singhi Lok Yim Show more
Business & Industry, Market Report
06:21 23.04.2025

ubs exits onshore wealth market in india amid rival expansion

UBS has exited the onshore wealth market in India, selling its local business to 360 ONE WAM for 3.07 billion rupees ($36 million) while retaining a 4.95% stake. This move contrasts with global rivals like LGT and Julius Baer, who are expanding in India, capitalizing on the country's growing millionaire population, projected to reach 1.06 million by 2028. UBS is instead focusing on China, enhancing its investment banking and wealth management offerings there.
finews.asia
Chinese Yuan Swiss Franc Indian Rupee United States Dollar Singapore Dollar Julius Bär Gruppe AG Credit Suisse Real Estate Fund Siat Barclays PLC IND AUS CHE JPN CHN TWN Kubra Khan Sergio Ermotti Nitin Singhi Lok Yim Show more
Business & Industry, Market Report
06:21 23.04.2025
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