(Bloomberg) -- Julius Baer Group Ltd. made several key appointments in India as it pushes deeper into one of the world’s fastest growing wealth markets.

Abhishek Chandra, formerly a senior executive vice president at Kotak Mahindra Bank, has joined as chief operating officer of the Swiss firm’s Indian unit, the bank said in a statement Monday. 

Chandra and another recently-appointed chief of staff Shuja Siddiqui will report to Umang Papneja, its India chief executive officer. Siddiqui joined from 360 One Wealth in January.

The Indian market is “currently witnessing a remarkable surge in wealth accumulation,” extending beyond major metropolitan areas to encompass smaller cities, reflecting the broadening landscape of wealth, Papneja said in the statement. 

Julius Baer is competing with other international firms from UBS Group AG and HSBC Holdings Plc in expanding in the country. The stock rallies in India coupled with robust economic growth have driven prosperity, making it an attractive market for both global and local wealth managers.

Other new appointments include:

  • Vishal Shinkhedkar has joined as team head, with three relationship managers reporting to him
  • Akul Juneja, a New Delhi-based team head, has expanded his team to eleven members after joining in 2022

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