Julius Baer has moved into the Chinese market
and opened a representative office in Shanghai.

Chief executive for Julius Baer in Asia,
Thomas Meier, said, “Our representative office marks our first step
to building a meaningful presence in this key global wealth
market.”

The Swiss private bank can not currently
provide any products in China because foreign banks can only apply
for a business license after having a representative office for two
years.

As part of their expansion in Asia, Julius
Baer intends to increase its workforce in the region, despite
announcing earlier this month that they would be cutting 150 jobs,
mostly in Europe.

Julius Baer’s move into China follows the
company’s Asia’s Wealth Report, published in September,
which predicted that by 2015 the number of high net-worth
individuals (HNWI) across Asia will more than double to 2.82m.

Meier said that the move into China emphasised
the bank’s commitment to the Asian wealth markets, and called Asia
Julius Baer’s second home market.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.