Stories
Standard Chartered's Judy Hsu Sees India's Long-Term Wealth Potential, Praises GIFT City
- •Judy Hsu, CEO, Wealth & Retail Banking at Standard Chartered Bank, highlights a structural shift in Asia's wealth management driven by rising affluence and financialization of savings.
- •Hsu remains optimistic about India's long-term market opportunity, citing strong economic growth, entrepreneurship, and M&A activity.
- •GIFT City is seen as a key platform for NRIs to access Indian financial markets and for resident Indians to diversify wealth overseas.
- •Indian high-net-worth clients are increasingly interested in private markets (private equity, private credit) and a wider range of investment products.
- •Hsu emphasizes diversification, asset allocation, and the ability to withstand volatility for long-term portfolio building, while noting continued interest in technology and AI themes.
Key Questions Answered
Standard Chartered views GIFT City as a vital platform for non-resident Indians (NRIs) to access Indian financial markets and for resident Indians to diversify their wealth overseas within allowed quotas, following the bank's receipt of in-principle approval from the IFSCA to offer wealth management products there.
High-net-worth and ultra-high-net-worth clients in India are increasingly shifting away from single public-listed equities toward private markets like private equity and private credit, alongside fixed income, structured products, and gold, driven by a growing focus on long-term planning and global diversification.
Standard Chartered has faced several senior executive departures from its Indian operations, including Saurabh Jain, the head of wealth management and affluent client segments who led its GIFT City strategy, while Amit Mamgain is set to take over his role.
