Julius Baer in Asia - Poised for a new growth chapter in our second home market

OPPORTUNITIES are ripe for Julius Baer to build on its position as one of Asia's largest wealth management providers. We have further sharpened our value proposition for High Net Worth (HNW) and Ultra-High Net Worth (UHNW) clients by delivering a bespoke, best-in-class experience and refining our coverage in products, mandates and services. We help our clients grow, preserve, and pass down the value of assets to the next generation, and the complexity inherent in these relationships plays to our strengths and capabilities.

"Julius Baer's primary focus is on our clients, and in helping them navigate through this challenging market environment. What distinguishes our people is that we use these times of uncertainty as opportunities to further strengthen our trusted long-term client relationships. The safety and stability of our wealth management model are key to reassure clients, and today, we are recognised as a top-tier pure-play private bank in Asia," says Jimmy Lee, member of the executive board, Julius Baer Group and head Asia Pacific.

Investing for the future

Asia is home to two of the Group's seven booking centres and 24 per cent of our total workforce. Singapore and Hong Kong are the second- and third-largest Group locations by employees, and the importance of Asia to Julius Baer is evident with a Group Executive Board member based in Singapore, allowing for faster decision-making in the region.

To further accelerate growth in our business, we have intensified efforts to attract and retain top talents in all our core markets and have made several key senior hires. We will continue to leverage our strong employer brand to develop our in-house talent bench from front to back.

The integration of local expertise with Julius Baer's full suite of international wealth management capabilities and advisory services has been a winning formula. In recognition, The Asset awarded us with "Best Boutique Private Bank, Asia" for the 13th c^onsecutive year, and at the Asiamoney Private Banking Awards 2022, we were awarded with "Best Pure Play Private Bank in Asia" and "Best Private Bank for HNW in Asia". We are also consistently in the top five in Asia in terms of assets under management1.

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Lee adds, "Southeast Asia is strategically important to Julius Baer and we are poised to capture the tremendous opportunities available in this region. With Singapore as our first global location for our in-house innovation lab Launchpad, we aim to accelerate the Bank's innovation journey and enable new technologies and solutions to be launched for our clients."

In growth markets such as Greater China and India, the Group will build on its well-established presence to seize further business opportunities.

In September 2022, Julius Baer became a strategic investor and business partner of China-based GROW Investment Group, allowing us to participate in the evolution of onshore wealth management in Greater China and bring our best-in-class solutions to Chinese clients. In Hong Kong, we will soon expand into a 100,000 square foot office in TaiKoo Place.

We are implementing a five-year business transformation strategy for India onshore, where we plan to expand our presence from six to more than ten cities in five years. With a Global India approach, we are among the global top three wealth managers serving non-resident Indians (NRIs), and won the "Best Private Bank - Global Indians" award for the third consecutive year at the Asian Private Banker Awards for Distinction 2022.

Activities in our key markets are complemented by dedicated local partnerships with Nomura in Japan and Siam Commercial Bank (SCB) in Thailand, where Julius Baer was the first bank to work with an established local partner to set up a joint venture. At the Asian Private Banker Awards for Distinction 2022, SCB-Julius Baer was named the "Best International Private Bank - Thailand" for the first time.

With families increasingly planning intergenerational transfer of wealth, Julius Baer instituted its Single Family Office business in Singapore to deliver proper succession planning as families grow in complexity. This trend is best demonstrated in the 2022 Julius Baer Family Barometer publication, where roughly half of the families surveyed have relatives and/or business interests on more than three continents. With a global network of internal and external specialists, we grow and protect family wealth, help manage life's challenges, and provide a family network to exchange ideas. At the Asiamoney Private Banking Awards 2022, we were also awarded with "Best Private Bank for Family Offices in Singapore".

Shifting priorities for wealthy individuals in Asia

According to an Accenture report, the penetration of environmental, social and governance (ESG) investing among wealthy investors in Asia is currently only at 33 per cent but is likely to more than double by 2023 to 70 per cent. "Private investors, worth US$42 trillion worldwide in 2021, are at the vanguard of a turning tide and can set important signals to the market," says Philipp Rickenbacher, chief executive officer of Julius Baer. "We are continuing our work to increase transparency and choice to help unlock the potential that private investors have to shape a sustainable future."

Fair trade, ethics and ESG factors figure highly across the globe, especially in Asia. "Our Global Wealth and Lifestyle Report 2022 revealed that apart from lifestyle elements, high net worth individuals are truly making conscious decisions with their investments, and we see a strong focus on responsible wealth management," says Rajesh Manwani, head of markets and wealth management solutions in Asia-Pacific.

Julius Baer is also shifting its energy footprint further towards renewable energies and targeting net-zero carbon emissions for its own operations by 2030.

Committed to digital innovation

Digital facilitation along the value chain underlies Julius Baer's state-of-the-art client delivery, and we will continue exploring digital assets as decentralised finance finds its way to regulatory convergence with traditional finance. Our new e-banking system offers easier ways to bank online and trade securities, while 'BJB Chat', the integrated WhatsApp and WeChat platform, allows for simple and secure communication. Our proprietary Digital Advisory Suite helps with holistic overviews of opportunities and won the "Front Office" award at the WealthTechAsia Awards in 2021.

Committed to long-term development, we aim to live up to our purpose and create value beyond wealth worldwide.

¹ Finews AUM League Table for 2021