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.”
Red Cross: 22 staff killed in Middle East since October
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The Red Cross and Red Crescent network in Gaza and Israel has lost 22 staff members since last October, the Swiss Red Cross (SRC) said on Wednesday.
Dortmund’s Kobel is first Swiss goalie in Champions League final
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Borussia Dortmund’s Gregor Kobel has achieved history by becoming the first Swiss goalkeeper to reach a Champion’s League final.
University students in Switzerland join Gaza protest wave
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Pro-Palestinian activists occupied university buildings in Lausanne, Geneva and Zurich on Tuesday, widening the protest movement in the Alpine nation.
TradeXBank to resume full operations after Sberbank Switzerland taken off sanctions list
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TradeXBank, the former Swiss branch of Russia’s Sberbank, will be able to resume its dollar-denominated activities from the second half of this year.
Geneva decides not to remove controversial memorials
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The city of Geneva has presented an action plan regarding a series of controversial local statues and monuments of historical figures linked to racism, colonialism or slavery.
University of Lausanne calls for end to pro-Palestine sit-in
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The pro-Palestinian occupation continues at the University of Lausanne (UNIL). On Monday evening, a group of students refused to agree to the deadline set by the rectorate.
Ukraine peace conference should include Russia, says Chinese ambassador
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China supports a peace conference on the Ukraine war that would see equal participation of all parties, says Chinese Ambassador to Russia Zhang Hanhui.
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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.