Union Bank, Edelweiss ink JV for wealth mngt

New Delhi, Sep 12: Union Bank of India (UBoI) on Friday, Sep 12 said it has signed an agreement with Edelweiss Securities to launch wealth management services.

As per the terms of the tie-up, Edelweiss will offer wealth management products and alternative investment options such as structured products, real estate funds and art fund to UBoI's High Net worth (HNI) clients besides equity and debt investments. The service will be initially offered to the clients in Mumbai, Pune, Ahmedabad and Kolkata.

''We anticipate the future needs of the customers and respond to it. The agreement will help increase alternative investment avenues for UBoI's customers, but also generate as additional fee-based income for the Bank,'' UBoI CMD M V Nair said in a statement.

UNI