17 September 2024: Burgundy Private, Axis Bank’s private banking business, announces the expansion of its wealth management services to 15 new cities, increasing its presence to 42 locations across India. With this strategic move, Burgundy Private will now offer its bespoke wealth management services tailored to the unique needs of discerning clients in India’s rapidly evolving Tier 2 markets.
The new locations, to start with, include Bhubaneswar, Patna, Raipur, Agra, Ghaziabad, Jodhpur, Udaipur, Jalandhar, Meerut, Belgaum, Kozhikode, Thiruvananthapuram, Aurangabad, Nagpur, and Gandhidham. These markets have demonstrated significant growth in investments, with savings and term deposits surpassing the Rs. 1 lakh crore mark*. By leveraging its expertise, technology, and data analytics, Burgundy Private aims to deliver personalised solutions that meet the evolving expectations of affluent clients in these emerging geographies.
Commenting on the expansion, Arjun Chowdhry, Group Executive- Affluent Banking, NRI, Cards/ Payments & Retail Lending, Axis Bank, said, “At Axis Bank, we are committed to delivering world-class wealth management solutions to a growing and discerning set of clients. We recognise the tremendous growth potential in Tier 2 cities and are eager to be a pivotal player in these evolving markets. Our deep understanding of these markets and their financial, cultural, and social nuances allows us to devise bespoke wealth creation and preservation strategies that empower our clients to achieve their goals and financial aspirations.”
Burgundy Private has an AUM of nearly Rs. 2.07 trillion, a 33% increase YoY, and currently manages wealth for over 13,000 families across 27 cities. Powered by the unique One Axis ecosystem within the Axis Group, Burgundy Private offers a comprehensive suite of products and services to its affluent clients, including banking, loans, cards, investments, insurance, broking, trustee services, investment banking, and NBFC solutions. Through its extensive network of wealth managers, Burgundy Private works closely with its clients, understanding their financial goals and risk appetite to provide holistic and personalised wealth solutions.
In addition to its bouquet of banking and wealth management services, Burgundy Private offers a selection of handpicked experiences encompassing the best of art, culture, lifestyle, and insights for Burgundy Private Clients. Recently, Burgundy Private partnered with Asia Society India Centre to host The Leadership Dialogues that showcase the impact of visionary leaders in driving collective progress. The inaugural event will feature Olympic Gold Medalist Abhinav Bindra in a compelling conversation with a renowned sports journalist.