Living Intelligence

NRI Wealth Intelligence

The race for the Global Indian wallet

Indian wealth is globalising faster than any comparable client base — and the world’s private banks are reorganising around it. This section maps the competitive landscape from the public record: who has built a dedicated model, how each strategy has evolved through entries, exits, and re-entries, which hubs the wallet is moving through, and the connections that link one firm’s move to another’s.

40

Players tracked

25

Dedicated NRI models

211

Dated strategic moves

245

Primary sources read

The Landscape in Five Archetypes

9 firms

Global Private Banks — Dedicated NRI Models

Named NRI or Global-Indian franchises with dedicated leadership, specialist teams, and multi-hub coverage.

Barclays Private Bank · Citi · Deutsche Bank · EFG International · HSBC · Julius Baer · LGT · Standard Chartered · UBS

5 firms

Global Banks — Implicit Coverage & White Space

Firms serving the diaspora through general private-wealth coverage — including deliberate white space.

BNP Paribas Wealth Management · Goldman Sachs · Lombard Odier · Morgan Stanley · Pictet

11 firms

Indian Firms Going Global

Indian wealth managers following their clients offshore via Dubai, Singapore, and GIFT City.

360 ONE · ASK Private Wealth · Avendus Wealth Management · Client Associates · ICICI Prudential Asset Management · IIFL Capital Services · Kotak Mahindra Bank · Marcellus Investment Managers · Motilal Oswal Asset Management · Nuvama Private · Waterfield Advisors

7 firms

Hub & Regional Banks

Banks anchored in the destination hubs, converting local presence into NRI wallet share.

Bank of Singapore · DBS · Emirates NBD · Lighthouse Canton · Mashreq · Nomura · RBC Wealth Management

8 firms

Digital NRI Platforms

Venture-backed platforms rebuilding NRI banking, remittances, and India investing from first principles.

Abound · Aspora · Belong · iNRI · Remitly · SBNRI · Wise · Zolve

How It Connects

Deal web

UBS ⇄ 360 ONE: the two-way structure that split India onshore from the Global-Indian offshore wallet

360 ONE (formerly IIFL Wealth) launched 360 ONE Global in September 2023 to chase the non-resident-Indian wallet from Singapore and Dubai, hiring ex-Bank of Singapore veteran Vikra…

Talent web

The Credit Suisse collapse seeded the modern NRI arms race

When UBS rescued Credit Suisse in March 2023, it inherited both CS's India onshore wealth team (just over 40 people) and CS's NRI bankers in Dubai and Singapore. Even before the re…

Talent web

Bank of Singapore: the NRI sector's involuntary academy

OCBC's Bank of Singapore runs the incumbent 'Global South Asia' franchise — and has become the single biggest talent donor in the offshore-Indian wealth race. Nearly every rival th…

All connections →

The India Arc

In, out — and back again

The world’s banks have answered India’s onshore question every possible way — exiting and partnering back in, exiting and rebuilding, building from offshore, or never leaving. One visual maps how each global firm approached it since 2008.

Explore the arcs →