Julius Baer Hires 11, Says Asia Is Its Second Home

Vanessa Doctor

13 May 2010

Bank Julius Baer has made several senior appointments within its Asian private banking and products teams as it further builds its business in the region.

Vincent Lim Chuan Hoo, previously the country market manager for Singapore and Malaysia at Societe Generale, has been named team head for private banking South East Asia. Evelyn Yeo, who joins the firm from Deutsche Bank where she was vice president, investment consultant for private wealth management, is now head of investment advisory services for Bank Julius Baer.

Nine other appointments were made, including specialists for the firm's treasury, capital markets, structure products, and investment advisory units.

"This is part of the bank's continuous effort to introduce new markets and enhance our solutions platform. We will continue to deepen our reach of the South East Asian markets with a client-centric approach and strong, open conduct platform," said David Lim, the head of private banking South East Asia and deputy chief executive officer Singapore for Bank Julius Baer.

The Swiss bank has been actively expanding its operations in Asia in a bid to transform the region into its "second home".

Julius Baer, like its other Western peers, is boosting headcount in the Asian region, a key area for wealth managers due to the region's still-growing number of high net worth individuals. Julius Baer has made a number of recent appointments. For example, the bank earlier this year named David Lim as head of private banking South East Asia.

Earlier this week, Julius Baer said its assets under management rose by 14 per cent from the end of 2009 to SFr175 billion ($158 billion) at the end of April this year. Total client assets rose to SFr266 billion.