SINGAPORE - Julius Baer, the esteemed Swiss wealth management firm, has announced the promotion of Kunal Sumaya to Market Head Global Non-Resident Indian (NRI), effective from January 1, 2024. With his new role based in Singapore, Sumaya will oversee the NRI markets across Singapore, Dubai, and Zurich. His appointment comes as part of a broader organizational reshuffle that sees Rahul Malhotra stepping up to join the Executive Board as Head Emerging Markets at the same time.
Sumaya is recognized for his significant contributions over a 13-year period with Julius Baer, where he has played a pivotal role in expanding business within Global India and developed markets. His prior position as Group Head Global India and Japan Singapore allowed him to build a strong foundation for his upcoming responsibilities. As Market Head Global NRI, Sumaya's focus will be on driving growth within NRI markets and enhancing the bank's strategic ties along the India connectivity corridor.
This strategic move aligns with Julius Baer's reputation for its client-centric approach and its open product platform. The firm boasts a solid financial base and an entrepreneurial management culture that seeks to set a global benchmark in wealth management. Founded in 1890, Julius Baer has managed assets worth CHF 435 billion and is listed on the SIX Swiss Exchange while being included in the Swiss Leader Index. The company's global presence spans approximately 25 countries with over 60 offices.
In tandem with Sumaya's promotion, Rahul Malhotra is set to become an Executive Board Member and Head Emerging Markets, marking a significant step in his career at Julius Baer. Meanwhile, Umang Papneja will continue to serve as CEO of Julius Baer India, diligently leading the bank's strategic transformation within India.
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