Key Points
The Credit Suisse Group AG crisis is likely to make a dent on the way well-off Indians view international wealth managers, a firm backed by Liechtensteins royal family said Tuesday...
Rajesh Cheruvu, chief investment officer and managing director at LGT Wealth India Private Ltd., said in the past 15 years or so, many multinational financial institutions have come and exited Indian markets and the latest incident was making wealthy investors nervous...
This particular event once again reminds and recalls the past uncertainty in terms of their business strategies, Cheruvu told Bloomberg Television..
This year, Citigroup Inc. exited its retail operations in India through a sale to Axis Bank, transferring all its wealth management business to the countrys third-largest private sector lender...
In addition, in the past decade, Credit Suisses new buyer UBS AG, Morgan Stanley and Macquarie Group Ltd. have exited the countrys private-wealth business, after finding it difficult to make money from the value-conscious millionaires who were not used to pay for their advice...
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Credit Suisse crisis sends shivers among wealthy Indians
21, Mar, 23India Business News: The Credit Suisse Group AG crisis is likely to make a dent on the way well-off Indians view international wealth managers, a firm backed by Liechtenst