Julius Baer appoints Kunal Sumaya as ad interim country head, India after Umang Papneja exit

Wealth management firm Julius Baer on Tuesday (May 5) said it has appointed Kunal Sumaya as ad interim country head, India. He will continue in his existing role as head of global non-resident Indians (NRI) alongside the new responsibility.

The appointment follows the departure of Umang Papneja, who has decided to leave the bank to pursue other opportunities. He will remain with Julius Baer through July 2026 to ensure a smooth transition.

As chief executive officer for Julius Baer India, Papneja led

a phase of business transformation, expanding the onshore footprint, strengthening product capabilities and building a senior leadership team that positioned the franchise for its next growth phase.

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Kunal Sumaya has been with Julius Baer for 17 years and has held multiple senior roles, including team head and group head. He has also played a key role in building the firm’s global NRI business and has served as global head of NRI coverage since 2022.

In his expanded role, Sumaya will be responsible for driving Julius Baer’s India onshore business as well as its global Indian client base across the Middle East, Asia, Switzerland and the United Kingdom. The bank said his appointment draws on his experience in global NRI coverage and leadership across key client segments.

Rahul Malhotra, Head of Region Emerging Markets and Member of the Global Wealth Management Committee, said, "Our clients are global in how they live and invest. The appointment of Kunal as ad interim Country Head India, with his deep understanding of the global Indian client and the India corridor, ensures we can serve them with continuity and depth, whether they are onshore or anywhere across the globe.

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India is an important growth market for Julius Baer, and Kunal is well placed to lead during this transition. I would also like to thank Umang Papneja for his leadership and his many contributions to the growth of our India franchise.

 

Julius Baer’s India franchise is built on a 30-year legacy and is one of the bank’s strategic growth markets. Over the last four years, Julius Baer India has expanded its onshore footprint to more than 13 locations, including five new offices.