Till now focused on managing the funds of NRIs to augment its Rs.10,000 crore business, Merrill Lynch is now turning its attention to high net worth individuals within India.

Growing incomes amongst professionals has made Merrill Lynch devise new products for the resident Indian. The wealth management company is moving in quickly to increase its current share of 0.5% of the market.

Rahul Malhotra, Merrill’s Global Private Client Group head is optimistic of the company’s targets to tap the vast pool of capital available with India’s high net worth citizens, and is confident the early moves made by his company will give them the advantage over other players.

Malhotra’s primary focus will be on the major metros where ticket size and willingness to take risks is moderately higher than tier II cities.