Exhilway Wealth to expand India Operations
Exhilway Wealth will invest Rs 150 crore in Indian markets this year, over 1700 people will be hired and nationwide 120 branches will be opened.
- (1888PressRelease) March 18, 2011 - Exhilway Wealth, the world's sixth largest wealth management company with assets of more than Rs 25,000 crore under management on Wednesday announced mega expansion in India. The previous attempt of expansion into the Indian markets done in the year 2008 failed as there talks with SMC Global Securities and Almondz Securities did not go through.
Exhilway Wealth has proposed investment of over Rs 150 crore; however this time the proposed investment amount is Rs 70 crore less than the amount committed in the year 2008.
"This time we will approach midsized brokers, we will also launch managed accounts officially in India. We aim to clock a daily volume of Rs 6,000 crore in equity and commodities markets." said Narayan Vasudeva, joint CEO of Exhilway Wealth.
Exhilway Wealth will also hire 1700 people for its proposed 120 nationwide branches. Exhilway Wealth's Indian operations got a beating when in the year 2009 over 150 people from the top management resigned. Indian operations currently contribute merely 1.2% of its net profit.