All articles by Lauren Mitchell

Julius Baer gets licence for HK booking centre

The Hong Kong Monetary Authority has granted Swiss private banking group Bank Julius Baer a banking licence.The branch status is part of the banks Asian growth strategy which aims to double staff numbers in the region.The Swiss private banks licence was granted despite being fined HK$3m ($390,000) by the Hong Kong Securities and Futures Commission in July for failing to identify wealthy clients as professional investors between October 2006 and July 2008.