MStanley eyes managing Indian super-rich - report
MUMBAI (Reuters) - Morgan Stanley is set to launch wealth management services for the super-rich in India -- for people with an investable surplus of at least $1 billion, the Business Standard reported on Wednesday.
"Very few firms in India provide a wide variety of services and options. We wanted to fill that gap..." the newspaper quoted Himanshu Bhagat, executive director at Morgan Stanley Private Wealth Management India, as saying.
India is the world's second fastest growing major economy and the number of billionaires is expected to go up, he told the paper.
Morgan Stanley will launch the service on Sept. 16 and expects only a dozen members initially. India will be the fifth country where it offers the service, the paper said.
(For more news on Reuters Money click www.reutersmoney.in)
© Thomson Reuters 2010 All rights reserved
Economy seen growing at 7.2 pct in FY10 - govt
The forecast reinforces the possibility that the government may start to unwind its fiscal stimulus in the budget. Full Article
Greek crisis sets euro zone enlargement back
The Greek debt crisis has dealt a setback to prospects of enlarging the euro zone by highlighting the difficulties of managing the single currency area. Full Article
India
US
UK
