Bank Julius Baer has opened offices in Hong Kong, led by Andrea Benenati, to attract more wealthy individual clients from Asia. Thomas M...

Bank Julius Baer has opened offices in Hong Kong, led by Andrea Benenati, to attract more wealthy individual clients from Asia. Thomas Meier, the bank's chief executive for Asia, the Middle East and Eastern Europe, said Julius Baer is looking to increase assets under management from emerging markets, led by Asia, to one quarter of the total managed by the bank over the next five years. The bank plans to double its Asia staff to 200 over the next two years, said Mr Meier. It will also open a Southeast Asian advisory office in Singapore next week. “Asia is leading world growth,” Mr Meier said. “You have to be close to clients in order to make an impact.” “We are hiring bankers at a fair price,” said Mr Meier, who declined to discuss compensation. “Bankers are coming to Julius Baer because they like going to work for a pure wealth management service that isn't diluted by other stakeholders.” In July, Julius Baer appointed Daniel Chiam as market head in the bank’s Singapore office. Mr Chiam joined from Overseas Chinese Banking Corporation, where he was head of private banking. Other recent additions to the Swiss bank’s burgeoning Asian business include Wilfried Kofmehl, who was hired as regional head for South-east Asia; Andrea Benenati as regional head of North Asia, Dr V. Anantha Nageswaran as head of research Asia and the Middle East and David Lim as head of investment finance.