Umang Papneja to be the new CEO of Julius Baer India

4 Jul 2022 , 03:17 PM

Ashish Gumashta will become executive chairman at Julius Baer India, and Mr. Papneja will report to Rahul Malhotra, head of global India and developed markets.

Umang Papneja transferred from IIFL Wealth Management, where he was chief investment officer, to the international wealth management firm. At IIFL Wealth Management, Papneja dealt with a variety of asset classes, including equities, real estate, fixed income, commodities, and alternatives.

Umang was the head of investments at Societe Generale private banking in Mumbai before joining IIFL Wealth in 2009.
Rahul Malhotra, head of global India, stated that Umang would be able to drive our growth plan and focus on developing a significant local presence by expanding our reach into more important cities in India.

After an accomplished career spanning more than three decades, Shitin Desai will step down from the Julius Baer India Board of Directors. Shitin was a founding member of DSP Investments and later held top positions at Merrill Lynch and Julius Baer.
India is a key market for Julius Baer, which wants to strengthen its position as the largest foreign private bank in the market.

The wealth management organization stated that India’s economy, which is currently the sixth-largest in the world and is predicted to overtake the US as the second-largest by 2050, offers a wide range of options.