Julius Baer

$30bn

India business per Citywire headline quoting Julius Baer executive — headline-level, body paywalled, asset perimeter (onshore vs onshore+NRI) undefined in open sources

Citywire Asia (headline; standfirst confirmed via search) · May 2026 · self-reported

13+ locations, RM headcount +30%

India onshore footprint and relationship-manager growth over past four years (bank-provided figures)

WealthBriefing · May 2026 · self-reported

55 RMs added since 2021 (+17% headcount)

India-facing relationship managers added, per Euromoney 2024 awards write-up (bank awards-submission data)

Euromoney Private Banking Awards 2024 · Mar 2024 · self-reported

200+ professionals, 7 cities

India onshore staff and city footprint at July 2023, ahead of the 13+ location expansion

Family Wealth Report · Jul 2023 · self-reported

6 consecutive years

Asian Private Banker 'Best Private Bank – Global Indians' award wins (cite awarder: APB; Euromoney runs a separate NRI award with different results)

Asian Private Banker award page (Kunal Sumaya quote) · Aug 2026

Julius Baer–EY 'Indian Family Office Playbook' published — thought-leadership anchor for the India franchise

The report ('Indian Family Office Playbook: Now, Next and Beyond', released 20 August 2026) estimates Indian family office assets at INR 70,000 crore in 2024, projected to grow 1.5x over three years, with 19,000+ UHNIs expected to exceed 25,000 by 2031 and US$1.3–1.5 trillion of intergenerational wealth transfer over the coming decade. Sumaya is styled 'Ad Interim Country Head - India & Market Head - Global NRI, Julius Baer'.

EY India press release

Julius Baer veteran Ankit Swaika to Bank of Singapore as team head, global South Asia (effective 2 Nov 2026)

Asian Private Banker (24 August 2026, headline calling Swaika a 'Julius Baer veteran'): 'Effective 2 November 2026 and based in Singapore, Ankit Swaika has been appointed as team head, global South Asia', reporting to Bank of Singapore market head Zubin Dabu — part of a pattern of JB NRI-facing talent moving to rivals in 2025–26.

Asian Private Banker

India CEO Umang Papneja quits; Kunal Sumaya unifies India onshore and Global NRI leadership

Papneja, Chief Executive Director of Julius Baer India since August 2022, quit (announced 5 May 2026, staying until July 2026 for transition). Sumaya — a 17-year JB veteran and Global Head of NRI Coverage since 2022 — became ad interim Country Head India while keeping Global NRI, 'responsible for driving the growth of Julius Baer's India business onshore, as well as across the global Indian client base spanning the Middle East, Asia, Switzerland and the United Kingdom'. He reports to Rahul Malhotra, head of the emerging markets region. Alongside, the bank cited an onshore footprint expanded to more than 13 locations and RM headcount up 30%.

Cafemutual (carrying JB press release) · finews.com · WealthBriefing

Citywire: 'We're growing $30bn India business despite exits' — Malhotra in hiring mode after losing a dozen senior bankers

Citywire's standfirst (26 May 2026): 'Despite losing its onshore CEO and a dozen senior bankers to domestic rivals, Julius Baer's Rahul Malhotra tells Citywire the firm is in hiring mode and leveraging its Global Indian strategy to capture a major surge in NRI assets.' The $30bn figure is exec-self-reported, headline-level (body paywalled); the asset perimeter is not defined in open sources.

Citywire (headline + standfirst; body paywalled)

Hong Kong NRI expansion: trio hired from DBS and Standard Chartered under group head Kapil Kapoor

Rajat Sood and Saurav Shekhar joined from DBS Hong Kong and Anshul Rai from Standard Chartered. Sood — previously 21 years at ICICI Bank — reports to group head Kapil Kapoor, who has a reporting line to market head Kunal Sumaya.

TheWealthNet / PAM Insight

First-mover claim: 'While rivals plan, Julius Baer profits from NRI'

Asian Private Banker reported that 'while competitors are still in the planning stages of similar non-resident Indian (NRI) initiatives and lack the same level of integrated, global connectivity, Julius Baer is already reaping the benefits of its early foothold', quoting head of global NRI Kunal Sumaya: 'Unlike other institutions that have fluctuated in their approach, Julius Baer has consistently stuck to its strategy.'

Asian Private Banker (lede; body subscriber-only)

Singapore NRI team head added: Ashwin Jayaram, reporting to group head Vijay Solomon

Jayaram was appointed Team Head, Global Non-Resident Indians Business in Singapore effective 19 August 2024, reporting to Vijay Solomon, Group Head, Global NRI. He brought two decades of experience from Bank J Safra Sarasin, Credit Suisse and Coutts, most recently as CEO of an MAS-licensed multi-family office. Kunal Sumaya (Market Head, Global NRI): 'Julius Baer's Global NRI franchise helps connect Indians across the globe and is a significant driver of growth within the emerging markets region.'

WealthBriefing

Dubai Global NRI build-out: team head Sanjay Advani hired from UBS, senior adviser Nisar Sindhi from JPMorgan

Advani joined from UBS as 'managing director and team head of Julius Baer's global non-resident Indians business in the emirate'; Sindhi, after 13 years at JPMorgan covering UHNW clients, became managing director and senior adviser; two relationship managers also moved from UBS. Both report to Dubai unit head Tarun Jalali. Kunal Sumaya, Head of Global NRI: 'These strategic hires signal our growth ambitions for the Global NRI Business.' Context cited: the UAE attracted roughly 4,500 new millionaires the prior year.

Gulf News (Bloomberg syndication)

Euromoney names Julius Baer the world's best private bank for non-resident Indians (2024 awards)

Euromoney's 2024 awards write-up called Julius Baer 'the largest foreign private bank' in India 'with a history stretching back more than 30 years', and recorded 55 new India-facing relationship managers added since 2021 with total headcount up 17%. Note: this is Euromoney's award; Asian Private Banker separately awards JB 'Best Private Bank – Global Indians'.

Euromoney

Global India head Rahul Malhotra promoted to lead new Emerging Markets region from Dubai, joining Executive Board

Malhotra was promoted 'from Global India Head to Lead Emerging Markets and to the newly restructured Group's Executive Board', based in Dubai and effective at the start of 2024. The new region kept the Global India franchise and added Middle East & Africa, Central and Eastern Europe, Israel, Greece and Turkey. Malhotra joined Julius Baer in 2021 after heading JP Morgan's Southeast Asia regional private banking business, with earlier roles at Merrill Lynch and Citigroup.

Gulf News

Targets doubling India headcount and tripling India AUM within five years

Opening a satellite office in Aerocity, New Delhi, Julius Baer said it intends to 'double its headcount and triple its assets under management in India within the next five years' — at the time a seven-city footprint with more than 200 professionals. Rahul Malhotra: 'Every day, India welcomes nearly three individuals who join the ultra-high net worth individuals (UHNIs) club, with net worth in excess of $30 million.'

Family Wealth Report

Dedicated India client segment introduced, targeting an estimated 13.5m NRIs

Per Euromoney's awards write-up: 'In February 2023, it revolutionised its approach to serving the estimated 13.5 million non-resident Indians (NRIs)'. The same write-up records seven offices in India (with expansion to Hyderabad and Pune), an Equity India Fund that 'attracted $167 million in capital in its first two weeks', and the Julius Baer Academy opened in India in May 2023.

Euromoney

'Global Indian' approach publicly framed as the franchise's biggest competitive advantage

Announcing domestic expansion and digital upgrades, Julius Baer said its 'Global Indian' approach — serving Indians globally — 'is one of its biggest competitive advantages and a strategic aspect of its Global India market strategy'. Six RMs joined the Indian franchise that calendar year, and Himanshu Bhagat had been appointed Head of Wealth Management at Julius Baer Wealth Advisors (India) in March 2020.

Hubbis

Onshore build-out: 11 relationship managers hired across four Indian cities

Julius Baer Wealth Advisors India appointed 11 relationship managers across Chennai, New Delhi, Kolkata and Mumbai under India CEO Ashish Gumashta, who said the firm was 'actively scaling up the India franchise' for resident Indian and NRI clients.

Private Banker International

Enters India onshore at scale: completes Merrill Lynch IWM India transfer (>CHF 6bn)

Julius Baer completed the asset transfer of Merrill Lynch's International Wealth Management business in India — 'the volume of the asset transfer in India corresponds to more than CHF6bn'. The global IWM integration began in early February 2013 and reached its CHF 57–72bn target range across 18 local businesses. Region head Thomas Meier noted the acquired business 'has already been well established in India since the 90s'.

Private Banker International