Julius Baer, the leading Swiss private banking group, has announced today the appointment of Ashish Gumashta as Chief Executive Officer of Julius Baer Wealth Advisors (India) Private Limited. He will report to Rémy A. Bersier, Head Emerging Markets.

Mumbai, 3 July 2017 – Ashish Gumashta has been appointed Chief Executive Officer (CEO) of Julius Baer Wealth Advisors (India) Private Limited as of 1 July 2017. In his new role, he will focus on the development of Julius Baer’s Indian domestic business and report to Rémy A. Bersier, Head Emerging Markets and member of the Executive Board of Bank Julius Baer.

Ashish Gumashta brings with him over two decades in senior management positions in the Indian private banking industry. He joined DSP Merrill Lynch in 1994, was Managing Director as of 2006 and held various leadership positions within DSP Merrill Lynch. Since the integration of Merrill Lynch’s International Wealth Management business in India in September 2015, he has played an instrumental role within Julius Baer in India.

Ashish Gumashta takes over from Atul Singh, who has decided to take on a new challenge outside the Bank. Atul Singh was a key player in the successful integration of the former Merrill Lynch business in India as well as in establishing a global private wealth management platform aimed at offering a distinctive experience to India’s HNWIs.

Rémy A. Bersier, Head Emerging Markets and Member of the Executive Board of Bank Julius Baer, said: “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. I would like to thank Atul Singh for his significant contribution to the firm’s operations and wish him all the best for his new endeavours.”

Ashish Gumashta, new CEO Julius Baer Wealth Advisors (India) Private Limited, added: “In the Asia Pacific region, India is amongst the top 5 countries in terms of HNWIs. Julius Baer brings a very different approach to wealth management and advisory, and I am excited about the opportunity to lead our successful business in its next phase of growth in this region supported by a very talented team of dedicated professionals.”