Julius Baer International, the UK-based arm of Swiss private bank Julius Baer Group, has poached five private bankers from Barclays Wealth & Investment Management for its new office in Scotland.

The newly hired professionals are Ross Clephane, Paul Turnbull, Alan Colquhoun, James Osborne, and Stuart Paterson.

Clephane worked for a decade as a private banker at Barclays, and has experience in offering investment management, wealth structuring and credit related advice.

Turnbull, who spent nine years at Barclays, has an experience of more than 17 years in offering retirement, succession and tax planning advice.

Colquhoun worked for six years at Barclays, advising entrepreneurs, executives and professionals. Before joining Barclays, he worked for four years in the international client group of Coutts and Co in London.

Osborne, who specialises in tax planning, formerly served as a director at Barclays.

Paterson, who spent 16 years at Barclays, specialises in serving entrepreneurs, HNW individuals, families, trusts and companies.

Julius Baer International CEO David Durlacher said: “Establishing a presence in Scotland provides our clients with unrivalled local knowledge combined with a global perspective and a unique pure-play offering. This move represents the next step in our long-term commitment to serving and growing our presence in the UK and Irish markets.”

The new office will be based at One Lochrin Square in Edinburgh and is scheduled to open in the second quarter of 2018.

The office will be led by Gordon Scott, the bank’s team head for Scotland, Northern Ireland and the North West of England.

In August 2017, the Swiss bank announced plans to expand presence in the UK and Ireland. In November that year, the bank hired wealth management professionals from Barclays to meet its expansion plans.

In January 2018, Julius Baer appointed Calum Brewster as its new head of UK regional offices.

“We are delighted to establish a permanent presence in the Scottish market and to welcome this strong and experienced team to Julius Baer International,” Brewster noted.