Family Office
Axis allies with BP Rothschild to serve expatriates
Swiss wealth manager lends prestige to Indian bank's cross-border
efforts. India's Axis Bank has allied with Geneva-based Banque
Privee Edmond de Rothschild to offer a suite of wealth-management
services to Indians living abroad.
Another kind of private
"As we have embarked on creating an international franchise for
the bank, a key aspect of our international strategy is to focus
on financial advisory services and wealth management solutions
for overseas Indians," says P.J. Nayak, chairman and CEO of Axis
Bank.
The services will be offered through Axis Bank branches in Hong
Kong, Singapore and Dubai.
Mumbai-based Axis, formerly UTI Bank, will own the actual client
relationships; the Rothschild family's Swiss private bank -- part
of LCF Rothschild Group -- will lend its expertise in wealth
preservation to help clients diversify their investment
portfolios.
LCF Rothschild Group has 30 offices in 19 countries. Axis Bank --
a private bank in the Indian sense (meaning it isn't owned
by the national government) -- had 508 branches at the end of
March 2007. -FWR
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