Citi eyes bigger share of wealth management in India

American lender Citi said it is eyeing a greater pie of the Indian wealth management business, concentrating both on the domestic opportunity as well as non-resident Indians (NRIs). It has made two senior level appointments in pursuit of this: Varun Chugh was named  global market manager for the 'global India' business and Puneet Sanwalka as head of India onshore business. The bank said several prominent Indian families have recently acquired residential and commercial real estate properties in the United Kingdom through financing from Citi Private Bank. Quoting from a report by a ...