| Swiss leading bank opens office in Hong Kong |
HONG KONG, Nov. 3 (Xinhua) -- Bank Julius Baer, Switzerland's largest dedicated wealth manager, opened its operation in Hong Kong on Friday as the city remained one of the most attractive places for global bankers.
Julius Baer has decided to make its Hong Kong office as the hub for its North Asia operations and promised to deliver the same quality service as in Europe and the Americas, said Alex W. Widmer, Julius Baer's chief executive officer of its private banking business.
"Asia is not only a key strategic growth region, but also our biggest growth story," Widmer said, "we are proud to be represented with such a talented and experienced team here in Hong Kong."
Bank Julius Baer acquired three Swiss private banks and the global asset manager GAM in 2005, boosting total assets under management to 1.9 trillion HK dollars (about 244 billion U.S. dollars) 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," Widmer said.
"Hong Kong is booming," Andrea Benenati, Bank Julius Baer's CEO of 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, was delighted that Julius Baer chose to set up its new office in Hong Kong.
"Hong Kong's strategic location at the doorstep of the booming China's mainland market makes the city an ideal investment destination for any wealth management expert."
"We wish Julius Baer every success and look forward to working closely with the financial institution for its future expansion here," he said.
The Julius Baer Group is the leading dedicated wealth manager in Switzerland. The group's global presence comprises over 30 locations in Europe, North America, Latin America and Asia, including Zurich, Buenos Aires, Dubai, Frankfurt, Geneva, Hong Kong, London, Lugano, New York, Singapore and Tokyo.
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