Julius Baer has hired senior relationship managers Jonathan A. Conner and Thomas E.M. Kloss to support business growth and regional expansion for the Middle East and Africa.
Both will join the bank in Geneva and report to Yvan Wicht, group head Middle East and Africa in Geneva.
Conner brings more than 25 years of financial services experience. Before joining Julius Baer, he worked at JPMorgan providing wealth management services to UHNW individuals and families from the Middle East. At the firm, he held several senior roles including Middle East market manager.
Kloss joins Julius Baer from HSBC Private Bank where he was responsible for managing client relationships across the Middle East. In addition, he worked at HSBC for more than a decade.
Wicht said: “I am very pleased to welcome two seasoned professionals to the Julius Baer family. We already have well established teams in Geneva, and I am confident that the proven track records, experience and networks of Jonathan and Thomas will add great value to our business.”
Régis Burger, Global Head Middle East & Africa at Julius Baer, adds: “We have successfully expanded our Middle East franchise during the past decades. Jonathan and Thomas are highly experienced Relationship Managers and therefore perfectly equipped to support our further development out of Geneva, an important location for Julius Baer. I am very much looking forward to working with them and confident that they will be able to support our growth strategy.”
The bank’s net income dropped 26% to $468m (CHF450m). Net profit attributable to shareholders also dropped by 26% to CHF451m or earnings per share by 24% to CHF 2.15.
Operating income was down 6.0% to CHF 1.97bn in the six months to June 2022.
The assets under management (AUM) also declined by 11% to CHF428bn in the first six months of the year.
Adjusted pre-tax profit fell 27% to CHF542m and the adjusted pre-tax margin dropped by 9 to 24 basis points.