Swiss private bank Julius Baer grabs the distinction as Best Boutique Private Bank in Asia for the 14th consecutive year at The Asset Triple A Private Capital Awards 2023 as it continues to demonstrate its leadership position and market dominance. With a focussed business model, Julius Baer’s revenue sources are diversified and this generates resilience over economic cycles. The bank was able to achieve this through high-quality revenues and improved efficiency, by scaling its business in key growth markets through organic and inorganic growth, and commitment to innovate wealth management in Asia through digital advancements.
Not one to rest on its laurels, Julius Baer further expanded its already strong presence in the region by opening new ultra-modern and cutting-edge offices in Hong Kong and New Delhi to service its ultra-high-net-worth clients in North Asia and South Asia, with plans to open new offices in Mumbai in India later this year and at One@Changi City in Singapore next year.
Julius Baer has also continued to attract net new money inflows of CHF 9 billion for 2022 from existing as well as new clients. The bank has also gained new talent and strengthened its leadership team with new appointments in Singapore, Southeast Asia, and India.
In Asia, its second home market, the bank is poised for a new growth chapter and has continued to expand its strategic partnerships including:
- An exclusive partnership with China’s Beijing Wealth Management Institute to elevate the skillsets of professionals in the Chinese wealth management industry.
- Its joint venture with Japan’s Nomura Group, Julius Baer Nomura Wealth Management Ltd, which was established in 2018, allows Julius Baer to introduce bespoke discretionary mandate services to Nomura’s high-net-worth client base in Japan, complementing its comprehensive international wealth management offering;
- Its joint venture with Thailand’s Siam Commercial Bank (SCB) has embarked on an ambitious high-end wealth management strategy, “The New Wave of Wealth”. The strategy combines onshore and offshore expertise with an open product platform, offering a wide variety of products and wealth planning services including educating the next generation through a new 45 Academia program.
- The bank announced a strategic investment and business partnership in China with GROW Investment Group in September 2022.
Julius Baer also brings its sustainability expertise to Asia with a strategy that is centred on empowering clients to make informed decisions about their investments’ ESG footprint and offers a range of solutions across three categories of responsible wealth management:
- Sustainable investing: Enabling investors to look specifically for companies with high sustainability performance and invest in ESG leaders.
- Impact investing: Generating a financial return while having a positive and measurable impact on society and the environment.
- Philanthropy services: Impact beyond investment for investors who want to donate money and create a legacy for future generations.
Julius Baer leverages its advanced digital banking capabilities to engage with clients, maintains its leadership in product innovation through digital assets, and delivers outperformance for its clients with its discretionary mandates offering.
As the largest pure-play private bank in the region, Julius Baer relies on a strategic focus that is supported by an engagement-led sustainability strategy as well as strong risk management, resulting in a broader range of personalized advice and tailored solutions for its UHNW and HNW clients.