I would be disappointed if we had less than 50% AUM growth

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India’s 8% growth story continues to increase the size of both local and foreign asset managers, while the country’s vast personal wealth, financialization and expectations of continued government signal more to come.

For Atul Singh, CEO of LGT Wealth India, this opportunity should lead to a further increase in assets under management through an aggressive hiring strategy, thanks in part to one of the biggest problems in financial history.

The company came into being when it acquired the assets and clients of Mumbai-based Validus Wealth in 2019. It launched its onshore operations in September 2022 and saw its assets under management increase 65% to $2.4 billion in calendar year 2023. It also rose 15% year-on-year.

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