The firm already has three employees based in Northern Ireland.

Swiss private bank Julius Baer International has confirmed that it is going to open an office in Belfast at the start of next year

The Zurich-based firm already has three people based in Northern Ireland, where it is actively targeting business owners, entrepreneurs and other private clients with a wealth of at least £1 million ($1.32 million).

Julius Baer's regional managing director, Jonathan Dobbin, confirmed plans for the new office at a roundtable in Belfast.

"We're just a few weeks away from signing off on the legals, but we expect to have a bricks and mortar presence in Belfast city centre early in 2019," said Dobbin. "Julius Baer is a global player operating in a local market. Northern Ireland is a great place to live and in which to do business, and since we entered the market at the end of 2017, we've surpassed all expectation. Opening an office underlines that we're not just here to dip our toes briefly into the market. It's a permanent move, and we're positioning ourselves for growth. It's a massive vote of confidence in Northern Ireland."

He insisted that strengthening UK-Swiss bonds "is of paramount importance" and said he would work hard to ensure clarity and continuity in the post-Brexit UK-Swiss relationship.

When asked by this publication about how many clients it has, and how much it manages in the area, the firm said: “We do not breakdown clients by location, but are pleased in the response we have had in this market since we entered it at the end of 2017. Opening an office underscores our long-term commitment to the Northern Irish market.”

The firm also added, when asked whether it wanted to expand its staff in Belfast in the next few months, that it is always on the lookout for new staff .

In February, this publication spoke to Julius Baer about its expansion plans in the UK, as it bolsters its operation despite the implications of Britain’s exit from the EU.