Swiss private bank Julius Baer has hired Credit Suisse executive Vijay Solomon to serve as the new group head of Global India and Developed Markets (GIDM).

He will assume the new responsibility on 29th of this month. He will operate out of Hong Kong and report to the head of Global India and Developed Markets Torsten Linke.

Solomon will be joined by six relationship managers and will together offer wealth management services to Indian Sub-continent (ISC) as well as Non-resident Indian (NRI) clients in Asia.

The relationship managers will report to Solomon.

Linke stated: “There are many expatriate Indians and people of Indian origin living or widely spread across the world, who represent a highly skilled segment with rising wealth.

“We will continue to attract the top talent to further strengthen and grow this sub-region.”

Background

At Credit Suisse, Solomon held many senior roles latterly as the head of the NRI and Japan International businesses based out of Hong Kong.

Besides, he was one of the designated executive officers for Credit Suisse Hong Kong Branch.

His financial career of over 23 years also includes stints at DBS, Societe Generale and ICICI Bank in Hong Kong and India.

Julius Baer moves

Zurich-based Julius Baer is said to be India’s largest global manager based on onshore assets under management.

Asia is the bank’s second home market. This March, the bank appointed Himanshu Bhagat as the head of its wealth management unit in India.

Earlier this year, the bank named Lalitphat Toranavikrai as the CEO of its wealth management joint venture in Thailand.

Meanwhile in August this year, Julius Baer collaborated with Beijing International Wealth Management Institute to train and educate wealth managers in China.