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Julius Baer opens representative office in Shanghai, China
The key role of the Shanghai representative office will be to function as a business liaison between the Bank, local regulators and local companies in China, to conduct market research into the wealth management industry in China, to provide consultancy to the rest of the Julius Baer Group in relation to the wealth management in China and to promote the Julius Baer brand within the China market.
The Chief Representative of the new location is Ms Yan Sun, who has been instrumental in the process to receive the representative licence from the regulator, the China Banking Regulatory Commission. Ms Sun reports directly to Dr Thomas R. Meier, CEO Asia and Member of the Executive Board, Bank Julius Baer. Prior to joining Julius Baer in January 2011, Ms Sun was the Chief Representative of Credit Suisse Investment Bank's Shanghai representative office.
Dr. Thomas R. Meier, commenting on the office opening, says: "We have long stated that China is a compelling market with an abundance of wealth management opportunities. Our representative office marks our first step to building a meaningful presence in this key global wealth market. This move underscores our commitment to Asia, which is our second home market after our home base Switzerland."
Ms. Yan Sun commented: "I am excited to be taking up this meaningful role introducing Julius Baer, the leading Swiss private banking group, to local regulatory bodies as well as potential knowledge partners. I expect to explore further opportunities for the Bank over the next few years as we grow our knowledge of the China wealth management market."
Bank Julius Baer continues its ambitious growth story to make Asia its second home market. In addition to opening its Shanghai representative office, the Hong Kong operation was upgraded into a full bank branch late last year, and it also opened a Singapore Trust company during 2011. Recently the Bank was confirmed as the 2011 winner of the Triple A award for "Best Boutique Private Bank" in Asia by The Asset, a leading regional industry trade magazine.
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