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Julius Baer bank moves into China

Julius Baer bank in Zurich
The Swiss bank called its move into China "unprecedented". Keystone / Steffen Schmidt

Swiss bank Julius Bär has acquired a stake in Chinese asset manager GROW Investment Group, it announced on Wednesday.

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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