The business has, as part of the global platform launched, appointed a former top Bank of Singapore figure to head it. The development speaks to India's growing momentum in the wealth management industry.

360 ONE, the India-focused firm that used to be called IIFL Wealth & Asset Management, has launched a global platform. As part of the move, it has recruited industry veteran Vikram Malhotra as the co-founder and CEO of 360 ONE Global, as the platform is called. The hire of Malhotra is a coup for this independent wealth firm and a sign of a broader trend of senior bankers entering the space.

The platform will develop a product and service proposition for offshore wealth and investment advisory to complement its existing wealth and investment advisory platform in the Indian onshore market. It will also tap into the group’s links with the global Indian diaspora in India and offshore markets, the group said in a statement yesterday.

Malhotra has served as the global market head for Global South Asia and Middle East at Bank of Singapore. He has more than three decades of experience across prestigious institutions, including Barclays, UBS, and ABN AMRO. His career has seen him build businesses across locations including Singapore, Hong Kong, Dubai and London.

The 360 ONE Global leadership team comprises Arunabh Banerjee and Pankaj Nagrath, who have served in leadership roles at Bank of Singapore and Barclays and will be stationed at centres such as Singapore and Dubai.

Nagrath built a channel and business around the global India wealth opportunity at Bank of Singapore. Banerjee – an alumnus of IIM Lucknow – has worked for the last two decades in various global banks spanning multiple roles, including corporate banking, credit and private banking. 

“By creating a comprehensive advisory capability for global wealth and investments, we’re reshaping the offshore landscape for Indian wealth managers,” Karan Bhagat, founder and CEO, 360 ONE, said.

“With a strong foundation in India, built over the last 15 years, 360 ONE is well poised to offer exceptional financial excellence to clients worldwide. Our collaborative approach and diverse capabilities position us to replicate 360 ONE's remarkable success story on a global scale. We are eager to harness the untapped potential of global wealth clients, including Non-Resident Indians, Middle Eastern and Asian wealth clients, as well as family offices,” Malhotra said. 

360 ONE has assets totalling around INR3,83,000 crores (more than $46.5 billion) under management, and is headquartered in Mumbai.