Swiss private bank Julius Baer has moved into a new and expanded office space in Singapore to accommodate growing business requirements.
The new location in Marina One is nearly two-fifths larger than the bank’s existing office in the region.
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The new office will house private banking, wealth planning, investment solutions, markets and trading teams.
Julius Baer head of private banking in Southeast Asia and branch manager in Singapore Torsten Linke said: “The decision to take up a bigger corporate space in Singapore was a logical step in our strategy to build sustainable growth in the region.”
At the same time, the private bank’s Mapletree Business City office in Singapore will also remain operational.
Julius Baer head of Asia Pacific and member of the executive board Jimmy Lee said: “Singapore is one of our key markets in Asia, where we have grown multi-fold from only a handful of staff more than a decade ago.
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By GlobalData“As we continue to grow our business here and in the region, it is only natural that we deepen our roots and strengthen our client relationships.”
During a news briefing in Singapore, Lee highlighted the bank’s plans to expand wealth business in Asia Pacific through acquisitions and partnerships.
The bank considers Asia its second home market, with the region’s employees constituting around 25% of its global workforce.
Lee said that the bank picked Singapore, Hong Kong, China, India and Indonesia as core markets.
“These are very high growth centres for private banking. Definitely we are going for organic growth, we are going for initiatives, we are going for any potential partnerships, we are going for even acquisitions,” Lee noted.
