India has a highly diversified financial sector that is undergoing rapid expansion with the existing financial services firms experiencing strong growth and new corporate entities entering the market. Though the Financial services sector in India is predominantly a banking sector, Perfman HR helps provide Financial services firms comprising commercial banks, insurance companies, non banking financial companies (NBFC’s), Mutual Funds etc. with mid and senior level talent.
Capturing New Ground
The Mutual fund industry has seen rapid growth in Assets Under Management (AUM). Another important component of India’s Financial industry is the insurance industry which has been expanding at a fast pace. Along with the secondary market, the market for Initial Public Offers (IPO’s) have also seen a high increase. New Investments and Developments are creating a huge demand for skilled finance managements to head Financial Services Companies who have set their sights on capturing new ground and delivering unprecedented results.
Investments by Foreign Portfolio Investors (FPI’s) in Indian capital markets are at the highest they have ever been. Similarly private equity and venture capital (PE/VC) investments have touched record highs.
India is today one of the world’s fastest growing vibrant economies growing largely on the back of robust banking and insurance sectors. Relaxation of foreign investment rules has led to a positive response in the global markets.
Credit, insurance and investment penetration is rising in rural areas. Wealth management segment is also seeing increased growth due to HNI participation. The demand for qualified professionals has thus increased.
Financial Sector Snapshot
Rising incomes are driving the demand for financial services across income brackets in India. India benefits from an extensive cross-utilization of channels to expand the reach of financial services. The Government of India has taken many steps to deepen the reform in the capital markets, allowing qualified foreign investors to access Indian bond markets. The Government has also approved new banking licenses and increased FDI limit in the insurance sector.
Penetration of credit, insurance services and investment is increasing in all areas both urban and rural. Many global companies have announced plans to increase their stakes in joint ventures with Indian companies. With joint ventures being announced with global insurance behemoths and local players, the human resource turf has intensified with the fight for talent taking centerstage in every financial company’s growth plans in India.
In the current as well as future scenarios, companies are investing in building strong leadership teams while at the same time reducing headcount. Though availability of quality talent in the financial sectors across sectors remains a challenge, our industry practice experts have mapped the quality talent pool that available in the market. We thus ensure that your key positions are filled up by the right talent.
Our Strength Sectors:
- Commercial Banking
- Mutual Funds