Julius Baer sets up Hong Kong office as Swiss private bank follows super-rich clients moving billions from US, UK and SG into HK, to be protected from western banks collapse, potential sanctions against Chinese and Arabs, eyeing investment visas, tax optimization.
‘We have existing clients who have already set up family offices here and we have seen plenty more who are exploring the opportunity,’ a senior executive says.
The Zurich-based private bank will officially open its Quarry Bay office on April 19 to better serve its wealthy clients