Zurich-headquartered Julius Baer has expanded its presence in Europe by opening a branch in Lisbon, Portugal after recently creating a new team in Madrid to serve its Spanish intermediaries’ clients. A number of European banks have also been increasing their activity in the Iberian Peninsula.

Swiss private bank Julius Baer has received regulatory approvals to open a branch of Bank Julius Baer Europe in Lisbon, Portugal, in the fourth quarter of 2025.

Located at Avenida da Liberdade 196, the Lisbon office will increase client proximity by servicing ultra-high and high net worth clients in Portugal, with an established and locally-based team. Julius Baer Europe has already established presences in Dublin, Madrid, Barcelona, and, most recently, Milan.

In 2019, a senior team joined Julius Baer in Madrid to develop and grow the market in Portugal. Under the leadership of José Maria Cazal-Ribeiro, group head, the team has delivered business growth over the following years. With the opening of the new branch, the existing team will relocate to the new premises in Lisbon at the beginning of January 2026. The current leadership team will remain in place, ensuring continuity, the firm added.

“We are excited to set up an own local presence in Lisbon and continue to rely on our strong leadership team for market Portugal,” Carlos Recoder, co-head Region Western Markets & Switzerland, said. “With this move, we are showcasing our ongoing commitment towards this promising growth market. By further increasing our network, we are also strengthening our position as a leading wealth manager in Europe. I very much look forward to continuing to build on the success of the team.”

A number of European banks have been increasing their activity in the Iberian Peninsula, such as Deutsche Bank and Barclays. See more here and here.