Swiss private banking group announces plans to open Leeds office

Xavier Trudeau
Août 3, 2017

Swiss private bank Julius Baer is expanding in the United Kingdom with four new offices.

But the Zurich-based firm is turning its focus to Manchester, Leeds, Glasgow and Belfast, opening new offices and hiring experienced relationship managers.

The timing of its United Kingdom expansion is notable given that many other financial institutions are looking to scale back in response to Brexit, with the bank's worldwide boss David Durlacher saying he did not expect the vote to damage individual wealth.

Two thirds of the UK's wealth is held by individuals outside of London and the south east, the bank said, adding that it would target business owners, entrepreneurs and "other wealthy individuals" from its new branches.

Julius Baer has turned to recruitment to expand its asset base amid subdued client activity, adding 166 relationship managers worldwide previous year. "We are committed to building a strong business for the long term and serving clients across the whole country". "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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