--HSBC Holdings and UBS Group are expanding their wealth management units in India after a wave of IPOs in the country created a new batch of millionaires, the FT reports citing unnamed sources.
--UBS is looking to buy Indian wealth management company 360 ONE, the FT reports. HSBC said in January that it plans to double its branches in India.
--Yatin Shah, co-founder of publicly listed 360 ONE, declined to comment to the FT on whether his company was in talks with UBS, but told the paper that a "lot of other good reputable franchises reach out to us, that they look at India for next 10 to 20 years as a very attractive destination outside the U.S." UBS didn't respond to a request for comment.
Full story: https://tinyurl.com/bdf7v7s6
Write to Ian Walker at ian.walker@wsj.com
(END) Dow Jones Newswires
March 17, 2025 02:18 ET (06:18 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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