Julius Baer has appointed Kunal Sumaya as ad interim Country Head India, effective Tuesday, May 5, 2026. Sumaya will retain his current role as Global Head of Non-Resident Indian (NRI) Coverage, which he has held since 2022, making it a dual responsibility.

The appointment follows the departure of Umang Papneja, who is leaving the Swiss private bank to pursue other opportunities. Papneja will remain with Julius Baer through July 2026 to manage the handover.

Sumaya brings 17 years of experience at Julius Baer, having held senior roles including Team Head and Group Head before leading the firm’s global NRI business. In his expanded role, he will oversee Julius Baer’s India onshore operations as well as its global Indian client base across the Middle East, Asia, Switzerland, and the United Kingdom.

Julius Baer’s India business, which the bank describes as a strategic growth market, has expanded considerably in recent years. Over the past four years, the firm has grown its onshore presence to over 13 locations, including five new offices, while Relationship Manager headcount has risen by 30 per cent. Women now hold 50 per cent of leadership positions within the India franchise. The bank’s Equity India fund, launched in 2022, has doubled in assets under management to USD 500 million and now serves clients across 17 geographies.

Rahul Malhotra, Head of Region Emerging Markets and Member of the Global Wealth Management Committee, said Sumaya’s understanding of the global Indian client made him well placed to lead during the transition.

Julius Baer, headquartered in Zurich, reported assets under management of CHF 521 billion at end-2025 and operates across approximately 25 countries and 60 locations. Its India franchise is nearly 30 years old.

Published on May 5, 2026