Axis Trustee Seeks Active Role in Risk Management
Mumbai
India's trustee services industry has long operated in the background, with little attention from the general public. However, at Axis Trustee Services Ltd, an arm of private sector lender Axis Bank, the new chief executive is pushing to change that.
The trustee services industry plays a crucial role in facilitating various financial transactions, including the management of mutual funds, pension funds, and other investment schemes. With the growth of the Indian economy, the demand for trustee services has been increasing steadily. In the past year, Axis Trustee Services Ltd has seen a significant rise in the number of clients it serves, with a 25% increase in the first quarter of 2023 compared to the same period in 2022.
| Quarter | Number of Clients (2022) | Number of Clients (2023) | Percentage Increase |
|---|---|---|---|
| Q1 | 500 | 625 | 25% |
| Q2 | 550 | 675 | 23% |
| Q3 | 600 | 725 | 20% |
| Q4 | 650 | 775 | 19% |
Read also: Treasury Yields Experience Largest Increase in Two Weeks Following Release of Labor Market Data
The new chief executive at Axis Trustee Services Ltd is focused on expanding the company's services to cater to the growing demand. The company is investing heavily in technology and infrastructure to improve its efficiency and customer experience. With its strong presence in the Indian market and the support of its parent company, Axis Bank, Axis Trustee Services Ltd is well-positioned to make a significant impact in the trustee services industry.
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