May
03
Big Winners From India’s Cash Clampdown Are Private Bankers
By-
HDFC Bank to add up to 150 private bankers to 250-strong team
- Advises clients to steer clear of India’s stressed assets
India’s clampdown on unaccounted cash has sent a flood of money into the private banking industry, prompting a major lender to embark on a hiring binge for wealth managers.
HDFC Bank Ltd. — the most preferred wealth manager in India among high net worth clients surveyed by Euromoney — plans to add as many as 150 relationship managers by the end of 2020 to the current 250, said Rakesh Singh, group head of private banking. He started hiring at a faster pace last year, when he added about 50…
