This highlights the company’s continuing five-year transformation strategy, unveiled in August 2022, which calls for investments in infrastructure, technology, people, and operations.

The new building has been strategically placed in a desirable area of New Delhi. Furthermore, it has been fitted with modern energy-saving features, innovative facilities, central water points and reduced plastic usage, all of which are in line with steadfast commitment to long-term sustainability.

With India on track to overtake China as the second-largest economy in the world by 2050, Julius Baer is optimistic about the wealth management industry’s tremendous development potential in India.

The office continues to be a key player in serving clients in the Delhi NCR region and numerous locations around North India as a satellite location for the firm’s strategic hub and spoke model.

Over 200 specialists are currently employed by Julius Baer, which also has a presence in seven important Indian cities and a pan-Indian network.

Within the next five years, the company wants to treble its staff in India and raise its assets under management (AUM).

Julius Baer recently submitted an application for an Alternate Investment Funds (AIF) licence in order to diversify and innovate its current product offerings for High Net-worth Individuals (HNIs) and Ultra High Net-worth Individuals (UHNIs).

Rahul Malhotra, head private banking global India & developed market at Julius Baer, said: “Every day, India welcomes nearly three individuals who join the ultra-high net worth individuals (UHNIs) club, with net worth in excess of $30m. As the number of millionaires in the country continues to grow rapidly, Julius Baer India will take this opportunity to extend our footprint. Our move to this cutting-edge office space is testament to our commitment to India and we are focused on delivering best-in-class wealth management solutions to our clients. Our comprehensive range of managed solutions include discretionary portfolio management and wealth planning services to sophisticated clients across North India—a critical market for the firm.”

Umang Papneja, CEO, Julius Baer India, added: “India’s wealth sector is valued at $600bn and growing at a rate of 12% annually, yet only a quarter of this wealth is professionally managed. We are delighted to embark on this new chapter for our firm in India to access this opportunity. Located in a prime district, our new office in New Delhi offers excellent connectivity and enables us to establish even closer connections with our clients. With an expansive layout, the new premises provides an exceptional environment for collaboration, allowing us to come together to deliver an unparalleled and personalised experience to our valued clients. This modern workspace also offers an optimal setting for fostering innovation and creativity and allows us to work on establishing a new standard of excellence within the wealth management industry.”