Julius Baer, the Zurich-headquartered private banking group, has opened a branch in Kreuzlingen, in the canton of Thurgau in the northeast of Switzerland.

The team working in the new branch was hired in November last year, but only moved into the new office yesterday, having previously looked after clients through an office in St Gallen.

The team will be headed by Daniel Geisselhardt, the firm said in a statement.

“Kreuzlingen lies within one of the most dynamic growth areas within Europe, the border triangle of Germany-Austria and Switzerland, where there is great potential for the wealth management business,” said Gian Rossi, the firm’s chief executive for German-speaking Switzerland, Middle and Northern Europe.