The Siam Commercial Bank and Julius Baer launch strategic wealth management joint venture, SCB Julius Baer, in Thailand serving high net worth individuals
The Siam Commercial Bank (SCB), the first commercial bank in Thailand, and Julius Baer, the leading Swiss wealth management group and one of the four largest private banks in Asia, announced today that their joint venture company, SCB Julius Baer, has received the necessary approvals and licences to operate in Thailand, beginning with over 50 dedicated professionals.
Bangkok / Singapore / Hong Kong / Zurich, 25 April 2019 – SCB-Julius Baer Securities Co., Ltd. (SCB Julius Baer) announced today that it has received the necessary licences in Thailand for its formal operations. SCB Julius Baer will focus on bringing best-in-class global wealth management capabilities to clients in the growing Thai wealth management market.
The joint venture will deliver the most relevant and impactful advice and solutions to the growing high net worth and ultra high net worth clientele in Thailand. It combines SCB’s strong reputation and deep domestic knowledge with Julius Baer’s 129 years of pure wealth management expertise and full offering of international wealth management capabilities for Thai clients in Asia.
Over the last few months, concrete steps have been taken and key personnel have been hired with the leadership experience and expertise in Thailand to advise clients regarding their wealth management and wealth planning needs.
Jiralawan Tangitvet joins as Chief Executive Officer to lead SCB Julius Baer. A seasoned investment specialist with over two decades of experience, both in the buy- and sell-side in the financial industry, Jiralawan has a track record of helping clients build investment strategies tailored to their financial goals as well as design business plans that accelerate growth and opportunities. Prior to joining SCB Julius Baer, she was most recently Managing Director at Kasikorn Securities.
“SCB Julius Baer symbolises trustworthiness and credibility. We endeavour to serve the sophisticated Thailand-based clients with our global wealth management platform for substantial growth and positive returns. Both organisations’ shared values of client centricity underscore our commitment to clients and this unique partnership,” said Dr. Arak Sutivong, President, The Siam Commercial Bank.
“In addition, over 50 relationship managers, investment specialists and support functions staff have been hired. They have been receiving comprehensive training and development, enabling them to serve clients’ long-term wealth management requirements. Talent development is one of the key priorities for building a sustainable business in Thailand. SCB is committed to the success of this partnership and will continue to present our best talent to support this business growth,” Dr. Arak Sutivong concluded.
“We are delighted that Jiralawan has been appointed to lead this important joint venture in Thailand. Her extensive experience combined with Julius Baer and SCB’s capabilities provide our clients with a unique value proposition in Thailand,” said Jimmy Lee, Member of the Executive Board and Head Asia Pacific, Julius Baer.
“SCB’s strong brand name in Thailand provides the joint venture with a home-court advantage while Julius Baer contributes its comprehensive investment and advisory solutions built on global best-in-class expertise. Together, we have a winning formula for our clients in Thailand,” said Christian Cappelli, Market Head Emerging Asia, Julius Baer.
Julius Baer’s international expertise and SCB’s on-the-ground experience form the foundation of these training and development programmes.
“Our training programme is tailored to equip relationship managers with key skills to meet the evolving financial needs of clients in Thailand,” said Christian Cappelli, Market Head Emerging Asia, Julius Baer. “We will leverage Julius Baer’s strengths and expertise in global private banking and SCB’s deep local knowledge to prepare the team for Thailand’s rapidly growing wealth management market.”