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Jakarta Post

Julius Baer private bank expands to net Indonesian rich

  • Vincent Lingga

    The Jakarta Post

Jakarta   /   Wed, September 8 2010   /  10:23 am

The largest Swiss private banking group Julius Baer strengthened its commitment to making Asia its second home market by convening its board of directors meeting here last week, the first outside its Zurich headquarters, and announcing a faster pace of expansion in the region, including Indonesia, Southeast Asia’s largest economy.

Julius Baer chairman Raymond J. Baer told a roundtable discussion meeting with financial editors on Monday that his bank would upgrade its Hong Kong office to a booking center, open an office in Shanghai and a trust company in Singapore, in addition to the branch office it set up in the city state in 2006.

The editor forum capped a series of meetings and gala events organized by Julius Baer in Singapore to launch its big bang expansion programs in the region.

“Wealth creation in Asia has now outpaced that in the older, developed world ...