The alliance will focus on building tailor-made investment product portfolios for NBO’s Private Banking customers.

Reliance will contribute to the alliance offering its local expertise in managing India specific investments, while NBO will offer onshore support platform to facilitate client investments.

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The agreement was signed by NBO’s general manager for retail, private and overseas banking group, Harsh Munjal and Vikrant Gurnani, executive director, Reliance Securities Ltd, in the presence of senior officials from both organizations.

Moosa Al Jadidi, NBO’s head of private banking and Sadara Wealth Management said: "We are indeed delighted to join hands with Reliance Wealth Management and thereby extend the portfolio of services for our esteemed customers. We will continue to refine and personalize our products to further delight our customers, align with their changing demands to ensure we satisfy their specific requirements at all times."