Sunday, September 02, 2007

Sutapa Banerjee (89 PMIR) - a First for India Inc.

Economic Times (Sept 2): In a first for India Inc., Abn Amro Bank’s Sutapa Banerjee (89PMIR) has been nominated among 20 most successful, rising wealth managers in the world by leading international business magazine, The Institutional Investor. For Banerjee, who heads the private banking department in Abn Amro Bank, the feat is even more noteworthy as there are only two nominations from Asia.

Banerjee, who is an alumnus of top Indian B-school XLRI, Jamshedpur, will fly to New York on September 10 to take part in the award ceremony.
“It is highly satisfying. We were one of the early entrants in this field. When I set-up the new private banking business thus paving the bank’s foray into the wealth man-agement business in 2002 there was no success model to follow. We worked hard as a team and created our own niche. This award is the worthy recognition of the team work that we have demonstrated in the last five years,” a joyful Banerjee told SundayET.

As per The Institutional Investor, the winning nominees oversee between $50 million and $32 billion in assets under management and work across the U.S., Europe, Asia, the Middle East and Latin America. The average age of those nominated is 37 years with the youngest 29 years old and the eldest 45 years old.

On very few nominations from Asia, Banerjee said that it was symbolic of nascent stages the wealth management industry is in this region. “We are relatively very small compared to the West where the practices are already es-tablished. The bunch of people who are working in this industry are the ones chosen from the best in their respective fields, be it brokerage houses, fund houses and other financial services. But I am confident that that this industry would continue to witness growth in double digit numbers over the next five years,” she lamented.

Banerjee, who has experience of 18 years in the banking business, also holds to her distinction setting up consumer banking division for ABN Amro in India from scratch in 1996. Prior to joining ABN Amro, she was working with ANZ Grindlays Bank plc for seven years from 1989 to 1996

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