UK and India pressure wealthy individuals to repatriate their assets from offshore centers

Since the onset of the financial crisis in 2008, the disclosure of undeclared offshore assets has come to the forefront of public discourse, resulting in active efforts by governments and tax offices in North America, Europe, and even some of the emerging markets to address the matter. Wealth managers should be able to benefit from the changing rules.

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TCS/Pearl Group: a recipe for Indian BPO on British soil

It was announced recently that negotiations are at an advanced stage for Tata Consultancy Services (TCS), to take over the operation of life and pensions administration for the closed book portfolio of UK-based insurer Pearl Group. The deal involves the transfer of existing Pearl non-IT staff to TCS and marks a significant watershed in the UK's outsourcing market.

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Societe Generale: local knowledge key to success in India

Expanding on its existing non-resident Indian offering, Societe Generale's SG Private Banking arm is pushing further into a market with significant growth opportunities. As the new operation finds its feet in the market, SG's potential acquisition of a local player should help the operation challenge the domestic competition for the numerous wealthy clients.

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SEBI entrenches conflict of interest in Indian market

Previous SEBI regulatory announcements have had major impacts on the wealth management industry, with banning entry loads for mutual fund distributors in 2009 being the most dramatic. In contrast, the latest move to set up an SRO for mutual fund distributors will have little positive impact on the industry or its commission-based conflict of interest.

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SBI's HNW strategy still very much mass affluent

SBI has opened another Kohinoor Banjara Premium Banking Centre, its second so far. While billed as catering to the HNW segment, Datamonitor feels it is better positioned to target the fast growing and lucrative Indian mass affluent market.

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Santander: benefiting from the BRIC bounce

The muscular market rallies that have occurred in the domestic stock markets of Brazil, Russia, India and China in 2009 make share sales within these countries an attractive option for capital-hungry international banks. Reports suggest that Santander's Brazil unit is considering the sale of shares in its domestic market, and many more may follow its lead.

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Retail mutual funds are gaining rapid popularity in the emerging markets of Brazil, China, and India

Globally, mutual fund assets more than doubled between 2002-07, while the BRIC nations (Brazil, Russia, China, and India) saw tenfold growth. Following the global financial crisis in 2008-11 mutual fund assets reduced by 12% worldwide, while the BRICs saw an 18% increase. Brazil, China, and India are also set for spectacular future growth in retail mutual funds.

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Retail banking IT: increased investment driving IT spend in India

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RBS the latest private bank to add philanthropy in a competitive Indian market

RBS India has announced that it will provide philanthropy services as part of its wealth management segment in India. The Indian market is quickly developing, with the poor current provision of private wealth management predicted to be addressed by 2013. Datamonitor expects further announcements regarding service improvements from across the Indian private wealth market over the next two years.

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RBS rounds out its HNW offering in India with credit products

RBS's Indian subsidiary has announced that it is extending its Credit Solutions products to India. The new offering will add to its existing suite of wealth management services, which include banking, investments, and wealth planning. The move brings RBS's Indian operation into line with its presence in other countries, and with the activities of other leading international banks.

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