Swiss private banking group announces plans to open Leeds office

Paterniano Del Favero
Agosto 3, 2017

At a time when many global banks are seeking to shift resources from the United Kingdom ahead of Brexit, Julius Baer is heading in the opposite direction.

Swiss private bank Julius Baer is hoping to court some of the UK's wealthiest individuals living outside London and the south-east by opening hubs in Manchester, Leeds, Glasgow and Belfast.

Julius Baer has turned to recruitment to expand its asset base amid subdued client activity, adding 166 relationship managers worldwide past year. Assets under management increased 6 percent to 355 billion francs ($366 billion) in the first half, the bank said in its earnings report.

In a statement, the company said: "In the context of this expansion, Julius Baer has hired a number of experienced relationship managers to bring its pure wealth management approach to a wider base of United Kingdom clients". It already employs 180 people in the United Kingdom. The UK, with its deep pool of talent in financial services, is a strategic location for investment and growth. "I am delighted we have attracted a number of very high calibre individuals and especially that we will be able to form strong and lasting client relationships across the country".

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