The firm has opened its doors in Tel Aviv, citing the country's rising millionaire population.

Former UBS bankers Patrick Müller and Klaus Wellershoff are taking their Swiss private banking advisory business to Israel, the Wall Street Journal reported.

Müller and Wellershoff reportedly launched their first overseas office in Tel Aviv last month to capture business from the country’s growing population of high net worth individuals.

Zwei Wealth Experts, launched in 2014, is fishing for “a new breed of millionaires with its offering”, the WSJ said, citing an interview with Müller.

The firm, which does not manage client assets, provides ad hoc as well as ongoing wealth management consulting. Among its core services, it pairs clients with asset managers by assessing their risk appetite against a bank's investment expertise and performance.

Israel’s technology boom is giving rise to a new generation of millionaires after the value of assets sold in 2016 rose to their highest level for four years, according to a report by IVC Research Center and Meitar Liquornik Geva Leshem Tal (source: the WSJ).