Foreign private banks plan boost in India headcount

Mumbai

FOREIGN private banks are bulking up in India once again after downsizing in the past few years, anticipating new opportunities to advise Indian millionaires eager to cash in on an Internet startup boom and on signs of an economic revival.

Bankers and consultants surveyed by Reuters said that foreign private banks will hire wealth managers this year and increase their headcount by a fifth, compared to a 10-15 per cent fall in each of the past two years.