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Wealth managers go head hunting in times of pink slips
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Wealth managers go head hunting in times of pink slips
4 Dec 2008, MUMBAI: In times of rising lay offs across industries, wealth
managers are going head
hunting for new talent as they see huge opportunity in the
wealth management domain. They are recruiting people both at senior and junior levels, to keep pace with their expansion plans.
In a downturn when investors are at a loss as to where to invest, wealth management services appear `meaningful`.
Axis Bank, SMC Global, Reliance Money, Birla Sun Life, ASK Investment Managers are looking at recruitments in sales/wealth advisory verticals. Encouraged by an increasing number of queries, all of these wealth managers are on an expansion spree geographically.
Launched in July, the wealth management division of Reliance Money has set a target of 1,00,000 clients by the end of current fiscal. Expanding its services from 20 cities to 50, Reliance Money will be hiring close to 100 people for the wealth management team in the next couple of months.
Similarly, the wealth management arm of Axis Bank plans to recruit 60-70 people in sales by the end of 2007-08, expecting an ambitious 100 per cent growth in business.
"We are adding to the central wealth management team in Mumbai, besides other cities. With economic development of the country, the need for wealth management services will grow exponentially. Within a period of next 5 years, the market should see 10-fold growth," said Sudip Bandyopadhyay, director and CEO, Reliance Money.
Sonu Bhasin, president – retail financial services, Axis Bank, said, "Earlier, people would not listen to us when we approached them for wealth management services. Now the situation has changed. We expect to convert most of them into our clients."
The wealth management division of Axis Bank will expand to 60-70 cities from the current 30 by the end of CY2009.
Expecting 30-40 per cent growth, SMC Global is looking to expand its presence to 4-6 cities by the end of current fiscal. "We will be recruiting 15-20 people in posts like vice president, assistant vice president and senior wealth managers," said S.S. Bansal, head – wealth management, SMC Global.
Wealth managers feel there is a large talent pool which is more affordable and available now, but were not forthcoming about compensation packages being offered
Source:
http://economictimes.indiatimes.com/Jobs/Wealth_managers_go_head_hunting_in_time
managers are going head
hunting for new talent as they see huge opportunity in the
wealth management domain. They are recruiting people both at senior and junior levels, to keep pace with their expansion plans.
In a downturn when investors are at a loss as to where to invest, wealth management services appear `meaningful`.
Axis Bank, SMC Global, Reliance Money, Birla Sun Life, ASK Investment Managers are looking at recruitments in sales/wealth advisory verticals. Encouraged by an increasing number of queries, all of these wealth managers are on an expansion spree geographically.
Launched in July, the wealth management division of Reliance Money has set a target of 1,00,000 clients by the end of current fiscal. Expanding its services from 20 cities to 50, Reliance Money will be hiring close to 100 people for the wealth management team in the next couple of months.
Similarly, the wealth management arm of Axis Bank plans to recruit 60-70 people in sales by the end of 2007-08, expecting an ambitious 100 per cent growth in business.
"We are adding to the central wealth management team in Mumbai, besides other cities. With economic development of the country, the need for wealth management services will grow exponentially. Within a period of next 5 years, the market should see 10-fold growth," said Sudip Bandyopadhyay, director and CEO, Reliance Money.
Sonu Bhasin, president – retail financial services, Axis Bank, said, "Earlier, people would not listen to us when we approached them for wealth management services. Now the situation has changed. We expect to convert most of them into our clients."
The wealth management division of Axis Bank will expand to 60-70 cities from the current 30 by the end of CY2009.
Expecting 30-40 per cent growth, SMC Global is looking to expand its presence to 4-6 cities by the end of current fiscal. "We will be recruiting 15-20 people in posts like vice president, assistant vice president and senior wealth managers," said S.S. Bansal, head – wealth management, SMC Global.
Wealth managers feel there is a large talent pool which is more affordable and available now, but were not forthcoming about compensation packages being offered
Source:
http://economictimes.indiatimes.com/Jobs/Wealth_managers_go_head_hunting_in_time
