Bank Julius Baer's 20th year of operation in Guernsey has
seen significant growth in the local office following the
group's acquisition of the Merrill Lynch International Wealth
Management business outside the US.
Paul Van Neste, Branch Manager for Bank Julius Baer in Guernsey,
said the integration was extremely positive for the Guernsey
He said: "During the on-going integration process, Guernsey
has demonstrated its competency to our group offices across the
world and as such, is regarded as a centre of excellence."
As a result of the increased business coming from the group, the
Guernsey branch has implemented an expansion plan which includes
Mr Van Neste said: "The transaction has been handled in
phases, which means that we have been able to grow the team on a
staggered basis ensuring that we recruit the right people and that
there is a smooth integration into our existing team."
The Guernsey office was established in 1994 as a subsidiary and
became a full branch five years later. The Julius Baer presence in
Guernsey also comprises a trust company providing fiduciary
services. The bank has gone from employing just over 10 people in
Guernsey in 1997 to almost 90 people currently and the team will be
further strengthened over the remainder of 2014.
Mr Van Neste said: "Julius Baer's name has been
synonymous with the highest standards of quality and expertise in
the fields of banking, wealth management and investment consultancy
for 125 years. The integration with Merrill Lynch will enhance Bank
Julius Baer's established and respected brand and reinforce the
advent of a new reference in wealth management as well as a
powerful product offering for all clients. The group, which employs
over 5,000 people, has a presence in 25 countries.
"Guernsey is an important office within the Julius Baer
group. As well as a team of relationship managers with their own
book of direct clients with significant assets under management,
Guernsey is also an important non-EU booking centre for the
group's clients who live in the UK and international clients
who are not residents of mainland Europe."
The Guernsey branch also has teams specialising in external
asset managers discretionary and advisory management and credit.
The latter providing a full range of credit products including
property lending, Lombard and Sharia-compliant facilities. In
addition, the group treasury and markets team are an integral part
of the bank's asset and liability management and are also
responsible for a significant proportion of the bank's
structured product issuance. Both the bank and trust company are
supported by an experienced risk management team ensuring the
highest standards of client due diligence and risk landscape
Tony Crawley, Head of Private Banking in Guernsey, said the
company's team was integral to its success. Mr Crawley said:
"Our company's foundations have been well laid with a
long-serving and dedicated team, four of whom have been with the
bank since its inception. Over the last 20 years we have strived to
retain our unique family culture and with everybody's
individual commitment we will continue to enjoy a successful future
and remain an integral and important part of the Julius Baer global
"The group's core values of care, passion and
excellence are central to our continuing success and reputation. We
have clear ambition and direction and are absolutely focused on
moving Julius Baer forward for the benefit of us as professionals,
for our investors and of course for our valued clientele."
Observing a recent discussion between the children of a successful entrepreneur, I was reminded once again of the potential impact of family members being provided with differing information about the family enterprise.
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