Opportunities for Wealth Management in India

Published by: Ledbury Research

Published: Feb. 1, 2009

Table of Contents

Executive Summary

Section 1

The Indian Economy

An Overview of the Indian Economy

Indian Equity Markets

Business and Commerce

Residential and Investment Property

Corporate and Personal Tax

Section 2

The Indian Wealthy and their Lifestyle

Numbers and Growth of the Wealthy

Numbers and Growth of the Mass Affluent

Geographic Dispersion of the Wealthy

Indian Attitudes to Savings

Opportunities for Portfolio Diversification

Sources of Wealth

Spending Habits of the Indian Wealthy

Section 3

The Indian Wealth Management Landscape

The Dawning Market

Size of the Wealth Management Market

Regulatory Landscape

Onshore and Offshore Assets

Structure of the Indian Banking Market

Profitability and Efficiency of Indian Banks

Growth of Credit Markets

LRS and Capital Account Convertibility

Section 4

Key Players in Indian Wealth Management

Multi-Family Offices

History, Sizes and Offering of Wealth Management Market

Wealth Management Competitor Profiles

Section 5

Views of the Wealthy and the Wealth Managers that Service Them

Critical Attributes of a Wealth Manager

The Renewed Importance of Security and Strength

Challenges in Maintaining Trust in the Current Economic Climate

Relationship Managers and Advisors

Other Drivers in Choosing a Wealth Manager

Section 6

Key Opportunities in Indian Wealth Management

Targeting the Mass Affluent

Local and Foreign Banks

Transfer of New Money Between Generations

Importance of Brand and Reputation

Expanding the India Wealth Management Product Suite

The Role of Relationship Managers and Advisors

Summary Findings

Appendices

Appendix A

The Indian Numbering System

Appendix B

Exchange Rates

Appendix C

Financial Sector Reform

Appendix D

India City Index

Appendix E

About Ledbury Research

Abstract

India represents one of the greatest opportunities to wealth managers over the coming decades. Even in today’s financial environment, the wealthy population in India is large and growing, yet the market is served by an underdeveloped Wealth Management industry.

Ledbury Research is the leading research agency that specialises in helping brands to understand the wealthy around the world. Ledbury’s clients include 8 of the world’s top 10 wealth managers; outside finance, their clients include all 5 of the largest luxury goods groups. The organisation is headquartered in London, with research hubs across mainland Europe, North America, Middle East and Asia Pacific.

Overview

This report provides a comprehensive picture of the wealthy in India, and an in-depth analysis of the Wealth Management market that is developing to look after them.

It investigates the components of growth in the economy on the wealthy in India, and charts the rise in their numbers. It also provides a detailed analysis of the emerging Wealth Management market, the effects of relaxing regulation, and a thorough market analysis, including competitor profiling.

Ledbury Research has combined three key threads to develop valuable insights into key opportunities in Wealth Management in India.

• In-depth interviews were conducted with heads of private banks operating in India.
• Face-to-face depth interviews were also conducted with the high net worth individuals themselves, to understand their needs from a wealth manager.
• These two sources were combined with a comprehensive market and trend analysis

The result is over 100 pages of insight including detailed competitor profiles and over 80 charts, tables and illustrations.

Wealth managers/banks covered in the report include:

• ABN Amro/ RBS Coutts*
• Bank Of America*
• Barclays Wealth
• BNP Paribas*
• Citigroup*
• DBS*
• DSP Merrill Lynch*
• HDFC*
• HSBC*
• ICICI*
• ING
• Kotak Mahindra*
• Morgan Stanley
• Société Générale*
• Standard Chartered
• UBS
• UTI (Axis Bank)

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