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2015-trial
PRIVATE BANK/WEALTH YOY %
RANK TYPE 2019 2018 19
MANAGER
INVESTMENTS I N D U S T RY PEOPLE T E C H N O LO G Y
CHANGE
W E A LT H P L A N N ICAGR
NG REGULA

25 Alpha Capital   
 Domestic 15 15 0.0% +10.7%

BNP Paribas Wealth

26 Foreign 11 15 -26.7% -12.8%
Management   


27 Waterfield Advisors   
 Domestic 8 7 +14.3% -

28 o3 Asset Management   
 Domestic 5 4 +25.0% -

All figures are APB estimates unless otherwise stated. Some figures
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may not correspond exactly with calculated totals/rates due to
rounding. Top 20 totals are as at 31 Dec for their respective years
and factor in revised data. Constituents of the Top 20 totals may differ from year to year.

‘N/A’ and ‘-‘: data unavailable

Notes: Citi Private Bank excluded at the request of the bank. Reliance Wealth Management and L&T Capital Markets Limited removed from
table as InCred purchased Reliance Wealth Management and L&T Capital’s Dubai wealth business in Nov 2019. IIFL Wealth purchased L&T
Capital’s India onshore business in Apr 2019.

India onshore AUM per RM (US$ million)

2019
PRIVATE BANK/WEALTH 2018 AUM AUM PER RM
RANK  TYPE AUM PER
MANAGER PER RM YOY CHANGE
RM

BNP Paribas Wealth

1 Foreign 1,500.0 919.1 +63.2%
Management   


Standard Chartered
2 Foreign 544.7 293.9 +85.3%
Private Bank

3 Waterfield Advisors Domestic 381.3 314.3 +21.3%

Kotak Wealth
4 Domestic 316.0 271.2 +16.5%
Management

Barclays Private Clients,

5 Foreign 306.0 153.3 -
India   


6 Julius Baer Foreign 285.7 225.0 +27.0%

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PRIVATE BANK/WEALTH 2018 AUM AUM PER RM
RANK  TYPE AUM PER
MANAGER
INVESTMENTS I N D U S T RY P E O P LRM
E
PER RM
T E C H N O LO G Y
YOY CHANGE
W E A LT H P L A N N I N G REGULA

7 Ambit Private Wealth Domestic 153.8 17.8 +764.2%

Credit Suisse Private

8 Foreign 142.9 153.9 -7.2%
Banking

Deutsche Bank Wealth

9 Foreign 119.1 107.1 +11.2%
Management

ASK Asset & Wealth

10 Domestic 115.7 116.2 -0.4%
Management

Avendus Wealth
11 Domestic 108.3 84.8 +27.8%
Management

Edelweiss Private Wealth

12 Domestic 103.1 75.8 +36.1%
Management

JM Financial Wealth
13 Domestic 96.5 118.1 -18.3%
Management

14 IIFL Wealth   
 Domestic 82.3 74.0 +11.2%

15 Client Associates Domestic 76.0 75.6 +0.6%

16 Alpha Capital Domestic 42.7 38.0 +12.3%

17 Axis Bank Burgundy Domestic 38.9 - -

18 Credence Family Office Domestic 35.7 34.3 +4.0%

19 HDFC Private Bank Domestic 35.0 31.7 +10.4%

Sanctum Wealth
20 Domestic 31.9 28.7 +10.9%
Management

Centrum Wealth
21 Domestic 26.9 27.3 -1.3%
Management

22 ICICI Bank Private Banking Domestic 22.4 19.5 +14.5%

Motilal Oswal Private

23 Domestic 21.7 14.8 +46.7%
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PRIVATE BANK/WEALTH 2018 AUM AUM PER RM
RANK  TYPE AUM PER
MANAGER
INVESTMENTS I N D U S T RY P E O P LRM
E
PER RM
T E C H N O LO G Y
YOY CHANGE
W E A LT H P L A N N I N G REGULA

24 o3 Asset Management Domestic 21.0 30.7 -31.3%

25 Karvy Private Wealth Domestic 13.1 12.6 +3.7%

Anand Rathi Private

26 Domestic 10.9 11.9 -8.2%
Wealth Management

27 Validus Wealth   
 Domestic 4.9 3.3 +48.8%

IDFC FIRST Bank Wealth

28 Domestic 2.2 - -
Management

India 2015-19 AUM per RM

201
Foreign Domestic

700
400
AR Karvy HDFC
200
Edelweiss
RM Headcount

MO Centrum
70 IDFC FIRST
Validus ASK
JMFL
40 Client Assoc.
JB
Sanctum Avendus
CS Barclays
20
Credence DB Ambit StanChart
Alpha Cap.
BNPP
6 Waterfield
o3
3
2019

Note: RM headcount on a log scale for visualisation purposes. Citi Private Bank excluded at the
request of the bank. WGC Wealth rebranded to Validus Wealth in Jun 2019. IIFL Wealth
purchased L&T Capital's India onshore business in Apr 2019. InCred purchased Reliance Wealth
Management and L&T Capital's Dubai wealth business in Nov 2019. AUM listed here for Axis
Bank Burgundy does not only include clients with Rs 5+ cr as it did in previous years; AUM listed
for Axis Bank Wealth Management in 2018 (counting only clients with Rs 5+ cr AUM with the
bank) was US$12.78 billion. 2015-18 AUM for Barclays Private Clients, India may not include
loans.

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