Blackstone’s ASK Set for Hiring Spree: 70 New Bankers to Ride India’s Wealth Wave

Blackstone-backed ASK Group is ramping up hiring, planning to recruit 70 private bankers by March 2026 as India’s wealth management sector sees explosive growth. This expansion will boost ASK Private Wealth’s team to 175, up from 105, reflecting surging demand from India’s rising affluent class.

 

Key Highlights:

 

• ASK Private Wealth manages ₹520 billion ($6 billion) for over 3,700 families, while the broader ASK Group oversees ₹745 billion ($8.6 billion) in assets across investment platforms.

• The hiring push comes as rivals like 360 One WAM and Nuvama Wealth also scale up to capture India’s booming wealth market.

• CEO Rajesh Saluja says ASK will be selective, focusing on bankers who fit the firm’s culture and avoid risky, high-churn profiles.

• Since Blackstone’s majority stake acquisition in 2022, ASK has expanded into new markets and received SEBI approval for its mutual fund business.

• Indian investors continue to favor gold, fixed income, and equity index funds, with demand for personalized advisory services on the rise.

 

Outlook:

 

With India’s wealthy population growing fast, ASK’s expansion signals fierce competition and opportunity in the wealth management sector. The focus on quality hires and diversified offerings positions ASK to capture a bigger share of India’s financial future.

 

Source: Bloomberg, Business Standard, Gulf Articles, Caproasia, NewsBytes