Bank Julius Baer, Switzerland's largest dedicated wealth manager, has opened its Hong Kong office which will be its hub for North Asia.

"Asia is not only a key strategic growth region, but also our biggest growth story, and we are proud to be represented with such a talented and experienced team here in Hong Kong," Dr Alex W. Widmer, CEO Private Banking, said.  "Client interest has been very encouraging so far, and with Mr Andrea Benenati at the helm, supported by a staff of senior dedicated private bankers, our Hong Kong operation can now deliver the first-class service for which we are already well-known in Europe and the Americas."

Bank Julius Baer acquired three Swiss private banks and the global asset manager GAM in 2005, boosting total assets under management to CHF 320 billion (HKD 1.9 trillion) by mid-2006, and placing the bank in the top tier of international wealth managers. 

"Within the next five years, we want to achieve a significant amount of our total assets under management in emerging markets, with Asia leading the way," Dr Alex W. Widmer emphasised.

"Julius Baer now has the size and the expertise in Asia to make it the first stop for clients looking for a specialised private bank," Dr Thomas R. Meier, CEO Asia, Middle East, Aegean & Eastern Europe, added.  "Julius Baer is now an international player to be reckoned with."

"Hong Kong is booming," Mr Andrea Benenati, CEO North Asia, added.  "We believe in the opportunities this region has to offer and we are here to make a difference."

The Director-General of Investment Promotion at Invest Hong Kong, Mike Rowse, said Hong Kong's strategic location at the doorstep of the booming Mainland market makes the city an ideal investment destination for any wealth management expert. 

The Julius Baer Group is the leading dedicated wealth manager in Switzerland.  The Group, whose roots date back to the 19th century, concentrates exclusively on the fields of private banking and asset management for private and institutional clients. 

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