Merrill aims to double Indian private client business

The bankÆs Indian subsidiary plans to meet the target by hiring 250 new staff over the next two years.

Merrill LynchÆs Indian subsidiary DSP Merrill Lynch has rolled out a plan to leverage its private client business in India. The bank plans to double the number of employees in its private wealth business in the country to more than 500 by the end of 2009. As a result, assets under management are expected to more than double in the same period.

At present there are around 250 people running the bankÆs global private client business in India, which has...

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