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Barclays Wealth has reached the milestone of US$1bn in assets under management in India - a 72 per cent increase from the beginning of 2010.

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This is an important milestone in our journey to be one of the top-tier private banks in India, and it is a result of our client-centricity and the commitment of the entire team.
Satya Bansal, Chief Executive of Barclays Wealth India

Barclays Wealth has reached the milestone of US$1bn in assets under management in India - a 72 per cent increase from the beginning of 2010.

It launched its wealth management business in the South Asian country in November 2008, against the backdrop of the global economic crisis.

In two years, Barclays Wealth has established itself as a top-tier private bank in India, advising more than 500 families, made up largely of entrepreneurs.

It currently operates through five offices in Mumbai, Delhi, Bangalore, Chennai and Kolkata, with a team of about 120 colleagues.

Commenting on the success, Satya Bansal, Chief Executive of Barclays Wealth India, said: "This is an important milestone in our journey to be one of the top-tier private banks in India, and it is a result of our client-centricity and the commitment of the entire team.

"More importantly, it validates the conviction our clients have in us."

Didier von Daeniken, Chief Executive of Barclays Wealth, Asia Pacific, added: "This is an excellent result in a market which has been and continues to be a strategic priority for Barclays.

"As we drive the growth of the business here in Asia, we can take pride that we are now recognised as a leading wealth manager in one of the region's fastest-growing economies.

"I congratulate the team on their success."

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