Swiss private bank Julius Baer has named Ashish Gumashta as the new CEO for its India business, replacing Atul Singh who will quit the bank to take up “a new challenge”.
As CEO of Julius Baer Wealth Advisors (India) Private, Gumashta will report to the firm’s head of emerging markets Remy Bersier. He will also join as a member of Julius Baer’s executive board.
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Gumashta previously served at DSP Merrill Lynch, where he joined in 1994 and was appointed the managing director in 2006.
Julius Baer said that he played an “instrumental role” at the bank following its acquisition of Merrill Lynch’s International Wealth Management operations in India in 2015.
“I welcome Ashish to take on the responsibility of driving our business to its next level of growth. India is a high-potential market for our Group with a very unique demographic profile. Julius Baer, through its global private wealth management experience and strong competitive advantages, is excellently poised and committed towards building a well-differentiated wealth management platform in the region, covering the market from five locations,” Bersier stated.
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