Swiss private bank Julius Bär has partnered up with Australian global financial services institution Macquarie in North and Southeast Asia.
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swissinfo.ch
Under the strategic collaboration announced on Thursday, Julius Bär will refer clients’ investment banking transactions to Macquarie, whose Asian private wealth business – worth $1 billion (SFr900 million) – will be transferred to the Swiss bank.
Julius Bär’s CEO Boris Collardi said it was an important step towards expanding their “footprint in the world’s most important growth region” and in what is their second home market.
Julius Bär has been granted a representative office licence in Shanghai by the China Banking Regulatory Commission and remains the only private bank to hold a foreign institutional investor licence from the China Securities Regulatory Commission.
Macquarie has approximately 10,000 staff in 26 locations across the region.
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