Sarasin Group enters Indian market and establishes Sarasin-Alpen (India) Private Limited
Dubai, 23rd June, 2009
Bank Sarasin & Co. Ltd, a leading Swiss private bank headquartered in Basel, Switzerland, has launched a presence in India and will open offices in Mumbai and Delhi on 1 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 new operation 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.
Sarasin in India: A powerful move with an immense potential for growth "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" said Joachim H. Straehle, CEO Bank Sarasin & Co. Ltd, Switzerland.
"This is a good time to launch our operations in India", said Fidelis M. Goetz, Head of Private Banking, Bank Sarasin & Co. Ltd, Switzerland. "The Indian markets have shown early signs of recovery and India will become one of the world's economic engines. Hence, it is a very important market for us and we have strengthened our presence in India through this launch". "We offer an exceptional opportunity for clients in India. We have won the prestigious "Best Private Bank" award from the Banker Middle East magazine for two consecutive years, so we are confident we can win the trust of our prospective Indian clients with the quality services that we have to offer" commented Rohit Walia, Executive Vice Chairman & CEO of Bank Sarasin-Alpen (ME) Ltd, Dubai.
The Sarasin Group's majority shareholder is the AAA-rated Dutch Rabobank which measured by its core capital, is one of the world's top 20 financial institutions. The Sarasin Group has its roots as a boutique private bank and is committed to providing its top-quality products and services to a growing number of wealthy private clients. One of the oldest banking institutions in Switzerland, the Group prides itself on its 168-year history and its long-term focus on wealth preservation.
The launch of the operations in India and the opening of the new offices in Mumbai and Delhi on 1 July 2009 mark the Sarasin Group's commitment to expanding its presence in South Asia and the next stage in the successful implementation of the Sarasin Group's international growth strategy. The Group's commitment to a truly global strategy has been demonstrated by its impressive growth in the Middle East and Europe. This dynamic expansion has not only added new locations to the Sarasin Group's existing network, it has also brought the Sarasin Group's tailor made services and products closer to its clients worldwide.