Billionaire Nirmal Jain Hiring 60 Bankers for India Wealth Boom
Tycoon Nirmal Jain is aggressively hiring bankers and pivoting his brokerage to wealth management, underscoring how Indian firms are racing to tap the nation's swelling ranks of rich clients.
Jain founded his flagship Mumbai-based IIFL Group and grew it into a financial services behemoth, comprising a shadow bank, a retail and institutional broking firm and a discount brokerage arm, along with a stake in a wealth manager. The three-decade-old group has propelled Jain and his wife Madhu's net worth to $1.2 billion, according to the Bloomberg Billionaires Index.
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