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Julius Baer Pushes Out Into UK Regions, Plans Raft Of Offices, Hires
Tom Burroughes
3 August 2017
. The UK is one of the key focuses for our firm." The third-largest wealth management house in Switzerland as well as a significant player in regions such as Asia, Julius Baer had SFr355 billion ($366 billion) of assets under management as at the end of June.
There have been a range of discussions around the expansion for several months, he said, adding that the names of those joining the firm in the offices should start to be unveiled in a matter of weeks.
"We will be investing in our brand and image across the UK," he said.
The bank will continue to focus on those in the higher reaches of the high net worth bracket and ultra-high net worth categories; it will be prepared to consider, where appropriate, clients below that level, Durlacher continued.
Durlacher noted the irony of a Europe-headquartered bank engaging in regional UK expansion when some continental European banks have talked of downsizing amid the Brexit uncertainties. However, he pointed out that in certain respects Julius Baer is a less complex organisation than some of the banks in question.