Swiss private banking group Julius Baer has appointed Himanshu Bhagat as the head of its wealth management arm in India.

The appointment is effective immediately.

Bhagat most recently worked as the managing partner at IIFL Wealth Management.

Earlier, he had a stint at Morgan Stanley, where he led the wealth management business.

At Julius Baer Wealth Advisors (India), Bhagat reports to Julius Baer India chief Ashish Gumashta.

According to Gumashta, the new hire will boost Julius Baer’s industry position and drive its next growth phase.

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Gumashta noted: “Julius Baer India, through its global private wealth management expertise and differentiated approach continues to steadily scale up the domestic franchise covering the market from six locations.”

Other leadership changes

Julius Baer has made several management changes lately.

At the beginning of this year, the bank named Lalitphat Toranavikrai as the new CEO for its wealth management joint venture in Thailand.

The bank recently also appointed Emmanuel Debons as the head of French-speaking Switzerland and Ettore Bonsignore as the market head of Italy & Ticino.

Last month, Julius Baer International named Mark Winterburn as its head of investment advisory UK.

Earlier this week, Julius Baer nominated ex-UBS executive Kathryn Shih as well as former Bank of America Merrill Lynch executive Christian Meissner for board seats.