Published by AsianPrivateBanker – 28th January 2015
In a bid to bolster its frontline and tap a market of investors with US$2.1 trillion in wealth, BNP Paribas Wealth Management hires a former ANZ non-resident (NRI) banker to its team.
Sunita Malik joins the French leader as a relationship manager covering Indian markets based in Singapore. She will report to Akshay Jaitley, managing director and NRI head of North Asia, also based in Singapore.
When contacted, a spokesperson from the bank confirmed the move.
Malik joins from ANZ Private Banking where she worked as a relationship manager for more than five years. Prior to working at the Dutch lender, Malik has worked at the likes of Merrill Lynch and Citibank.
The hire comes as the face of NRI banking changes in the aftermath of a new government, its promise for reform and a rally at the nation’s stock exchange. Given a recent spate of private banks withdrawing from the NRI space in Asia, looking at how to capitalise on this increasingly moneyed diaspora is a hotly debated topic.
BNP Paribas Wealth Management grew its assets under management (AUM) in Asia by 20% in 2013 to reach US$50.8 billion, according to this publication. Most recently, BNP Paribas Wealth Management’s global AUM was bolstered by positive inflows from Asia where AUMs rose to US$56.4 billion as of September 2014.
Please visit AsianPrivateBanker for more news
