Basel, Switzerland-based private bank Sarasin & Co. has decided to launch operations in India by opening offices in Mumbai and Delhi from July 2009. The Sarasin Group’s first presence in India is incorporated as Sarasin-Alpen (India) Private Limited, which is a ‘Non Fund Based Non Banking Financial Company’ (NF-NBFC).
The bank has reported that the new operations will provide financial advisory and consultancy services to wealthy private clients in India and distribute select prime third-party products such as mutual funds. Various agreements have been established with organizations in India to enable Sarasin-Alpen (India) Private Limited to distribute their funds and portfolio management services.
Joachim Straehle, CEO of Bank Sarasin & Co. Switzerland, said: “We are delighted to launch our presence in India. As the sustainable Swiss private bank, we look forward to providing innovative financial advisory solutions matching the requirements of our discerning and growing Indian client base”.
Fidelis Goetz, Head of Private Banking, Bank Sarasin & Co., Switzerland, said: “The Indian markets have shown early signs of recovery and India will become one of the world’s economic engines of growth. Hence, it is a very important market for us and we have strengthened our presence in India through this launch”.
