The Zurich-based bank did not say how much it had paid but spoke of a “low double digit million US dollar equity investment”. “With this partnership, Julius Bär takes a first step into onshore China and at the same time, GROW’s clients will gain access to Julius Bär’s global investment expertise,” it said in a press release.
Founded in June 2021 in Shanghai, GROW is a China-based domestic asset management company with a proven track record, according to the Zurich bank, and whose mission is to be a “world-class, next generation asset management firm with a focus on China”.
“We are delighted to participate in the evolution of onshore wealth management in China through such an unprecedented partnership,” David Shick, head of Greater China at Julius Bär, is quoted as saying. “The cooperation between GROW and Julius Bär will undoubtedly create value for these clients and support our growth plans for this important market.”
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Bank of China gets approval to open branch in Switzerland
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Bank of China announced on Monday that it had received the greenlight after completing the registration process in June. The Chinese financial institution said it wants to “build a bridge for Sino-Swiss trade and investment and play a bridging role in promoting economic, commercial and financial exchanges.” Re-designated as a global systemically important bank in…
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If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.