Axis Bank Eyes to Hire 50 Private Bankers Amid India’s Wealth Boom

Axis Bank is strengthening its private banking operations as it looks to benefit from the sharp rise in wealthy individuals across India, as per news reports.  

The bank plans to expand its Burgundy Private franchise through targeted hiring, wider geographic reach and new fund offerings. 

Expansion of Burgundy Private 

Axis Bank is hiring 50 senior private bankers for Burgundy Private, its dedicated private banking arm, which currently has around 250 bankers. The bank has widened its presence to 52 cities from 30 last year to better serve HNIs and UHNIs.  

“We have expanded to 52 cities from 30 last year to tap the rising wealth in tier II cities and beyond,” said Arnika Dixit, who heads wealth management and affluent banking at Axis Bank, in an interview with Bloomberg.  

As per Bllomberg reports, as of September, total wealth assets under the Burgundy brand stood at ₹6.45 trillion, of which Burgundy Private manages about ₹2.5 trillion for over 15,000 ultra-high-net-worth clients. 

Funds strategy and industry context 

Axis Bank also plans to launch multiple funds from GIFT City in early 2026, including inbound products for NRIs and domestic wealthy investors, as well as outbound funds focused on global equities and dollar-linked structured products.  

This expansion comes amid intense competition, as global and domestic players step up hiring to capture India’s fast-growing affluent base.  

The wealth management industry is expected to double its assets by March 2029, driven by strong capital markets, IPO activity and private investments, even as banks continue to operate within regulatory limits on compensation. 

Read More: Axis Bank Share Price Jumps 4% as Asset Quality Improves, Slippages Narrowed in Q2 FY26 Results! 

Axis Bank Share Price Performance  

As of December 15, 2025, at 11:43 AM, Axis Bank share price is trading at ₹1,283.90 per share, reflecting a decline of 0.17% from the previous closing price. Over the past month, the stock has surged by 2.74%.  

Conclusion  

Axis Bank’s strategy reflects intensifying competition in India’s wealth management space. By expanding its private banking workforce, widening its city presence and launching domestic and global funds from GIFT City, the bank aims to capture rising HNI and UHNI wealth amid strong capital market growth. 

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