BUSINESS GROWTH
Swiss private bank Julius Baer plans expanding in Europe
Baer’s European business chief has an eye on Britain, Germany and Spain as new business matches high-growth Asia
Zurich — Swiss private bank Julius Baer plans to expand its footprint in Europe where it says it is attracting as much new business as in high-growth Asia. The head of Baer’s European business, Yves Robert-Charrue, said that the bank planned to expand in Britain, Germany and Spain, by hiring, opening new branches and potentially by M&A activity if it sees opportunities. It will also continue investing in technology at its European offshore booking centre in Luxembourg. "I’m in a little bit of a competition with my colleague running Asia to see who’s stronger in the long term," Robert-Charrue said during a recent interview at the bank’s headquarters in Zurich. "I would not exclude an acquisition to leapfrog the growth we think we can achieve, if the conditions are right. There’s potential for further hiring in big strategic markets." Baer is Switzerland’s third-largest listed bank with Sf401bn in assets under management at the end of April and said last month that its net money inflo...
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