Swiss private banking group Julius Baer has strengthened its team in Brazil with the appointments of five former Credit Suisse bankers.

The newly-hired bankers include Jorge Torea, who managed the international wealth management business for Brazil at Credit Suisse.

He also had stints at Clariden Leu, Affentranger Associates, Altium Capital, as well as PricewaterhouseCoopers.

Torea will now serve as the market head for Brazil at Julius Baer.

The other new hires are Oliver Raess, Giovanni Vodola, Giorgio Bossi, and Ivano Massacra.

Raess has been appointed as the deputy market head for Brazil at Julius Baer, Vodola as the team head, while Bossi and Massacra will serve as senior relationship managers.

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By GlobalData

The appointments are effective from 1 November 2019.  The new hires will report to Julius Baer Latin America head Beatriz Sanchez.

Julius Baer considers Brazil to be a core market.

The bank operates in the country through its subsidiaries Reliance Group, which it acquired last year, as well as GPS.

The bank introduced a family office brand in the country in August with over 200 staff.

Sanchez noted: “We are committed to investing further in Brazil. Our combination of local proximity and know-how with our international presence and investment expertise will be further strengthened across this key market.”

Recently, Julius Baer expanded its team in Chile with the appointments of five bankers.

On the other hand, it withdrew from Peru, Panama, and Venezuela markets.