Julius Baer is to target intermediaries selling to Eastern Europeans following the revamp of its Lon...
Julius Baer is to target intermediaries selling to Eastern Europeans following the revamp of its London operation that will be headed by Paul Mathews.
The London office is to become more in line with Julius Baer's Guernsey private banking operation that Mathews also heads. Three to six new staff will be recruited to the London office to provide a niche discretionary management service to Eastern Europeans as well as international clients. Mathews is presently looking at intermediary groups who know the Eastern European market that will help support the operation. Julius Baer is targeting Eastern Europe as a lot of wealth is being created in these markets.
The main aim for the London office is to provide a presence for domestic onshore clients and for international clients that may be living and working in London. However, the Guernsey branch will specialises in the majority of the group's activity in private banking, asset and liability management and wealth management unit. It has an approximately team of 37.
Mathews has been previously CEO and senior vice-president of the Guernsey branch. Mathews intends to spend most of his time in London to develop the strategy and profit margins there.
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