Julius Baer opens Singapore location

9 November 2006

Bank Julius Baer, Switzerland’s largest dedicated wealth manager, has officially opened Bank Julius Baer (Singapore) Ltd. to service the Southeast Asian market. In addition to a team of relationship managers, the bank now has a full-fledged booking system for Asian and international clients as well as trading facilities to cover Asian markets and time zones.

“I am convinced that our investments here in Singapore, in the best people as well as in the infrastructure, will make the operation a great success,” Alex W. Widmer, CEO Private Banking and Member of the Group Executive Board said on Thursday. “With Wilfried Kofmehl as CEO for Southeast Asia, who leads this expert team, we can now offer clients the state-of-the-art service they have come to expect from Julius Baer.”

The acquisition of three Swiss private banks and the internationally operating asset manager GAM last year propelled Julius Baer into the top tier of wealth managers worldwide, with CHF 320 billion (SGD 400 billion) in assets under management at end-June 2006. “While most of Bank Julius Baer’s clients currently come from traditional markets in Europe, within five years the bank aims to achieve a significant amount of its assets under management in growth markets, with Asia leading the way,” Alex W. Widmer said.

“It would be unthinkable to be a global leader in our field without a strong team in Southeast Asia,” said Thomas Meier, CEO Asia, Middle East, Aegean & Eastern Europe. “We are proud to bring a very strong Swiss private banking brand to this dynamic market.”

“There is such an abundance of opportunities and growth in Singapore and the region,” added Wilfried Kofmehl, who brings a wealth of experience in catering to Asian and international clients as well as an intimate knowledge of the needs of highly-profiled and sophisticated private investors. “Our rich history coupled with innovation and a thorough understanding of our clients, their backgrounds and their cultures, will help us to be successful here.”

Last week, Bank Julius Baer also celebrated the opening of its Hong Kong office.

Commenting is closed for this article.