Merril Lynch, one of the
world’s leading financial management and advisory companies, is
planning to bring an array of new products for NRIs. This is considered
to be a strategic move by the company to emerge as the biggest
private banker to serve to the demanding requirements of existing
market.
With a whopping $360 billion
in investable assets, the 22 million Non Resident Indians (NRIs)
serve as important driving force for the Indian economy, says
Rahul Malhotra, Merril Lynch’s head of India Global Private Client,
Rolling out new products will help the company to leverage the
global business.
The company is thinking to
double the number of financial advisors catering to Indian clients,
both within the country and abroad as it envisages the step to
help in expanding client base by 8-10 times in near future.
Merril Lynch holds a vast
experience in the country through its partnership with DSPML,
which gives it an edge over other leading firms on the basis of
global proficiency and local knowledge.
In a step to create large
cooperation between NRIs and onshore India businesses, the company
takes a global approach with Indian and NRI markets.
