Axis Bank to add 50 private bankers to expand wealth management operations

India-based Axis Bank is reportedly readying to enlistee 50 backstage bankers arsenic portion of its strategy to grow its wealthiness absorption operations.

This determination is driven by the expanding fig of high-net-worth and ultra-high-net-worth individuals successful India, reported Bloomberg.

The bank’s backstage banking division, Burgundy Private, presently employs astir 250 bankers, according to the latest yearly report.

Burgundy Private manages astir Rs2.5tn ($27.4bn) retired of the full Rs6.45tn ($71.4bn) successful wealthiness assets managed by the bank, arsenic of September 2025.

The Indian lender serves 15,250 clients with investible assets of astatine slightest Rs50m, according to the Bloomberg report.

Axis Bank wealthiness absorption and affluent banking caput Arnika Dixit, successful an interrogation with Bloomberg, said: “We person present expanded to 52 cities from 30 past twelvemonth to pat the increasing wealthiness successful tier 2 cities and beyond.”

In summation to hiring, Axis Bank is preparing to motorboat respective funds from Gujarat International Finance Tec-City (GIFT City) aboriginal adjacent year.

These offerings see inbound funds for affluent clients and non-resident Indians, utilizing feeder and nonstop concern structures targeting India’s superior markets.

The slope besides intends to present outbound funds that volition put successful planetary equities and structured products that are dollar-denominated.

This enlargement aligns with manufacture trends, arsenic some planetary and home fiscal institutions are expanding their beingness successful India’s wealthiness absorption sector.

HSBC Holdings, Standard Chartered, Uday Kotak’s backstage bank, and 360 One WAM are besides expanding their operations to conscionable the rising demand.

This maturation has accrued contention among wealthiness managers, boosting hiring activity, on with higher commissions, sign-on bonuses and different incentives.

Axis Bank’s strategy reflects the wider question wrong the manufacture to code the evolving needs of affluent investors successful India, the study said.

In August past year, Axis Bank, successful concern with Visa, launched Primus, a recognition paper intended for Axis Bank clients with exceptionally precocious nett worth.

"Axis Bank to adhd 50 backstage bankers to grow wealthiness absorption operations " was primitively created and published by Private Banker International, a GlobalData owned brand.

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