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Axis Bank expands Burgundy Private's wealth management services to 15 new cities, enhancing its presence in India.
Axis Bank announced that it was expanding its wealth management services offered by its private banking division, Burgundy Private, to 15 new cities, thereby reinforcing its presence throughout the country. By doing so, Burgundy Private will take its services to 42 locations where it will cater to high net worth clients offering bespoke wealth management solutions, targeting emerging Tier 2 markets.
Newly included cities are Bhubaneswar, Patna, Raipur, Agra, Ghaziabad, Jodhpur, Udaipur, Jalandhar, Meerut, Belgaum, Kozhikode, Thiruvananthapuram, Aurangabad, Nagpur, and Gandhidham. Burgundy Private has positioned itself strategically in these regions, catering to the changing needs of high net worth clients with an array of personalized wealth management solutions combined with expertise, technology, and data analytics.
Leveraging both the extensive knowledge of its marketplace and its matured technology infrastructure, Burgundy Private strives to deliver very customized services in confluence with each client's financial objectives. The wealth management services will help clients oversee their financial portfolios efficiently and strategically so that their wealth continues to grow safely and as diversified as possible.
The expansion was complemented by an increase in the Assets Under Management (AUM) of Burgundy Private, which now stands at Rs 2.07 trillion, a year-over-year growth of 33%. As a result, Burgundy Private now advises more than 13,000 families in 27 cities, placing it at a premium position within the private banking and wealth management market in India.
This is in line with Axis Bank's commitment to the growing demand for wealth management services in India. The robust technology combined with a personalized approach of Burgundy Private would help address dynamic financial needs in both metropolitan and emerging Tier 2 markets across India.
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