View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
September 21, 2022

Julius Baer buys stake in China’s GROW Investment Group

Swiss wealth manager Julius Baer has made a strategic investment in GROW Investment Group to foray into onshore China market.

The bank has also become a business partner of GROW, which was established last year to cater to the Chinese asset management industry.

The latest move includes a low double-digit million US dollar equity investment made by Julius Baer into GROW.

As part of the alliance, both the companies will co-found a distribution network, which will help GROW’s local customers to avail certain Julius Baer solutions through Qualified Domestic Limited Partnership solutions.

The network will help Julius Baer’s customers across the world to access the local investment knowledge and assets through Qualified Foreign Institutional Investor tools.

Julius Baer head of Greater China David Shick said: “We are delighted to participate in the evolution of onshore wealth management in China through such an unprecedented partnership.

“We are convinced that the opportunities in the sector in China are bright, and we are looking forward to gaining visibility and bringing our best-in-class solutions and expertise to Chinese clients.

“The cooperation between GROW and Julius Baer will undoubtedly create value for these clients and support our growth plans for this important market.” 

In June this year, Julius Baer announced a plan to sell Geneva-based wealth manager Fransad Gestion to its management team for an undisclosed amount.

The sale was part of the firm’s policy to reduce the difficulty of its portfolio companies.

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Wednesday. The industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy


Thank you for subscribing to Private Banker International