The Hindu Business Line : Societe Generale to offer wealth management services

(From left) Mr Balakrishnan Kunnambath, MD & Global Head, Indian Subcontinent, SGPB Asia-Pacific; Mr Pierre Mathe, Global Head, SGPB; Mr Daniel Truchi, CEO; SG Asia Pacific; and Mr Sandeep Sharma, Senior Vice- President, at a press conference in the Capital on Wednesday. - - Kamal Narang

New Delhi , Nov. 30

SG PRIVATE Banking (Asia-Pacific), an arm of the French banking group, Societe Generale, announced the launch of its private banking facility in India on Wednesday.

To start with, the new entity will operate out of New Delhi and Mumbai, though it plans to tap high net-worth individuals (HNI) from Chennai and Bangalore also.

Speaking at a press conference here, Mr Pierre Mathe, Global Head, SG Private Banking (SGPB), said that India was a promising market for those offering wealth management services.

"As a global financial institution with robust net-worth, both in onshore and offshore markets, we will give best wealth management services to Indians," he said.

The Chief Executive, SGPB, Asia-Pacific, Mr Daniel Truchi, said that the HNI segment in India was set to grow, with the economy expected to grow 7-9 per cent. The Managing Director and Global Head (Indian Subcontinent), Asia-Pacific, Mr Balakrishnan Kunnambath, said that clients would benefit from Societe Generale's expertise in both domestic and global markets.

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