Julius Baer establishes private client office (SIM) in Milan

4 June 2008

Zurich/Milan, 4 June 2008 —- Julius Baer, the leading dedicated wealth manager in Switzerland, has established a private client office – Julius Baer SIM – in Milan, complementing its already successful asset management business in Italy. The new office, which will be headed by Stefano Canossa, will focus primarily on providing investment services to wealthy private clients. Fabrizio Rindi has been appointed Chairman of the Board of Directors of Julius Baer SIM and Julius Baer SGR.

The establishment of Julius Baer SIM (SIM; società di intermediazione mobiliare) marks another important step in the execution of Julius Baer’s global growth strategy and underscores the Group’s commitment to the Italian market.

Bernard Keller, CEO Italy and Southern Switzerland at Bank Julius Baer and Vice Chairman of the Board of Directors of Julius Baer SIM in Milan, stated: “Our extensive wealth management expertise, client-centric approach and ability to attract some of the most talented industry specialists are a clear commitment to quality for our clients. Furthermore, thanks to our established asset management business in Italy, we are ideally positioned to
provide best-in-class services that are tailored to the individual needs of clients in this key market.”

Fabrizio Rindi has held various senior management positions in the Italian finance industry over the past 20 years, including Vice Chairman of Credit Suisse Italy, Chairman of Aurora Assicurazioni and Chairman and CEO of Winterthur Insurance and Winterthur Life in Italy.

Stefano Canossa, Head of Julius Baer SIM, has extensive experience in the field of asset management – acquired during his time at GAM – as well as an in-depth knowledge of the Italian market.

Julius Baer SIM S.p.A. is located at Corso di Porta Nuova 3 in Milan.

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