Our Bureau Credit Suisse on Thursday announced the appointment of Puneet Matta as Head of Wealth Management India from June 1.

Matta, with 30 years of experience across wealth management as well as corporate and investment banking, rejoins Credit Suisse from Union Bancaire Privee.

His most recent role at UBP was Head of EAM Asia and Key Clients South Asia.

He will report functionally to Balakrishnan Kunnambath, Market Group Head — Indian Sub-Continent, and locally to Mickey Doshi, CEO — India, Credit Suisse, said in a release.

Matta will be relocating from Singapore to Mumbai.

Balakrishnan Kunnambath, Market Group Head — Indian Sub-Continent, in a release said: “Since launching our wealth management platform in India in 2008, our team and assets have grown from strength to strength through our unique onshore-offshore model. Clients in India are increasingly looking for global investment opportunities and our set-up is well-positioned to capture this booming demand. We are confident that Puneet is ideally placed to take us to the next level and capitalise on opportunities in India.”

Benjamin Cavalli, Head of Private Banking — South Asia, said: “This appointment underscores the importance of our successful domestic franchise in India and our commitment to this market which is a key growth location for Credit Suisse’s wealth management business.”

Mickey Doshi, CEO India, said: “India’s total wealth has increased four-fold since 2000, as reported in the tenth edition of the Global Wealth Report by the Credit Suisse Research Institute, to reach $12.6 trillion in 2019. India is ranked fifth globally in terms of the number of ultra-high net worth individuals, with 4,460 adults having wealth over $50 million and 1,790 having more than $100 million, according to Credit Suisse estimates. Having worked with Puneet during his stint with Credit Suisse a few years ago, I am excited to have him back with us to leverage the boundless opportunities in India.”