Julius Baer, the leading Swiss private banking group, confirmed that Victor Chao Tzu-Ping has joined the bank as Greater China Team Head, effective immediately. He will focus on building the bank’s business in the region.
Catherine Tseng will lead a new strategic initiative in the Greater China region developing the Key Client segment. Both are based in Hong Kong and will report directly to Dr Thomas R. Meier, CEO Asia .
Mr Chao is a veteran private banker with over 25 years of banking experience. He will be
responsible for further growing Julius Baer’s client capabilities within the Greater China
region. He joins Julius Baer from Deutsche Bank AG where he was, until recently, Head
Private Wealth Management - China, based in Shanghai, and previously Head Private
Wealth Management Onshore - Taiwan, based in Taipei.
CEO Asia, Dr Thomas R. Meier, commenting on the new appointment, says “We are
delighted that Victor Chao is joining our team. The Greater China market is a top priority for
the bank, and we are confident that a high calibre banker of Victor’s stature will add strength
to the capabilities of our team to maintain the growth of our business in this key market. I am
also very pleased to announce that Catherine Tseng will act as the Head of Key Client team
which is a new position developing relationships with Key Clients as we are confident that
Julius Baer’s range of services and open product platform can be further customised to meet
the expanding needs of these large established clients.”
Julius Baer recently launched its inaugural Julius Baer Wealth Report focusing on Asia. From
the figures detailed in the report, the Greater China region is set to contribute significant
global growth in High Net Worth Individuals (HNWI). China alone is forecast to have HNWI
wealth of USD 8.76 trillion and 1.4 million HNWI by 2015. Adding to this the growth trajectory
for Hong Kong (growth of 8.7% over 5 years) and Taiwan (14.4% growth over 5 years), the
Greater China market could represent 1.65 million people holding USD 10 trillion of wealth by
Bank Julius Baer continues its ambitious growth story to make Asia its Second Home Market.
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.