The company said it is planning to grow its Asian operations into its second home market and, since establishing an office in Hong Kong four years ago, has built a large team of advisors and other professionals there.
However, the bank added that the “benefits and reassurance” of being able to offer a full service to clients who prefer to retain their assets in Hong Kong was always recognised and branch status has “always been the long-term plan”.
Andrea Benenati CEO of Julius Baer in North Asia said: “This is a significant milestone in our growth strategy in Asia and will have a considerable impact on the development of our business here.
“Not only will a branch licence attract more clients to Julius Baer, but it will also allow us to further expand our product offerings in what is clearly a very exciting and sought-after market. We feel confident we can offer clients the best investment solutions and advice.”
