For CEO Shaj Babu’s team at Julius Baer in Bahrain, stewardship means adapting advice as clients’ circumstances change, drawing on an understanding built over years of working with families and their businesses.

That sustained care finds an expression in the sculpture Julius Baer has commissioned from artist Rashed AlAraifi to mark the anniversary. Inspired by the growth pattern of a date palm seed, its concept of “Nurtured Wealth” draws on Bahrain’s cultural landscape. The image recognises the effort that went into building a family’s wealth and the possibilities it holds for those who will inherit it.

From understanding family ambitions to bespoke advisory

The advice has evolved, too. Julius Baer built on a local presence dating to 1976 when it acquired Merrill Lynch’s international wealth management business in 2013. For clients, that meant access to a dedicated wealth manager with broader capabilities. As relationship manager Nitesh Agarwal explains, conversations evolved to encompass “capital preservation, holistic succession planning, structured family governance and sustainable investment opportunities”. 

These changing interests also affect what clients expect from their advisers. “Traditionally, the approach here tended to be conservative and relatively product-centric, with a focus on areas such as equities and fixed income,” says relationship manager Ahmed Mukhtar. “Today, clients increasingly appreciate more sophisticated services, tailor-made proposals, and broader wealth management solutions.”

A new generation looks beyond familiar assets

Bahrain’s development as a financial centre and its vision for economic diversification have broadened the investment landscape. “Many founders remain focused on familiar assets, particularly real estate, and preserving what they have built,” says relationship manager Ammar Bukannan. “The founding generation created the wealth, so naturally they want to protect it.”

Their successors may see a different use for that capital. “The younger generation is increasingly asking why much of the family’s wealth is tied up in relatively illiquid real estate when there are opportunities elsewhere – whether in technology, acquisitions or other private investments,” says Nitesh. Their international experience and interest in digital innovation bring new perspectives to family investment decisions.

“Striking a balance between the generations is crucial, but it can also be delicate,” says Ahmed. He describes the adviser’s role as “helping align the values of the patriarchs with the next generation’s understanding of markets and their own aspirations”. It’s a challenge Julius Baer understands from its own origins as a family business. Governance frameworks help founders and successors agree on how responsibility will pass from one to the other. 

Local understanding, lasting relationships

Bespoke advice begins with a deep understanding of each family, its ambitions, and the sometimes differing priorities of successive generations. Julius Baer’s team in Bahrain is predominantly Bahraini and understands local customs and the roles different family members play, including women who lead businesses or shape investment decisions.

That local knowledge also supports the team’s work with Saudi families, whose cultural ties with Bahrain create a natural connection between the two markets. The team draws on its regional expertise to meet Saudi clients’ growing demand for structured family governance and succession planning. “Bahrain serves as an ideal gateway,” explains Shaj. “As the Kingdom of Saudi Arabia emerges as a leading financial hub in the region, our office is well positioned to capitalise on new opportunities through our strategic proximity.” 

Broadening the horizons of family wealth

Shaj describes Julius Baer’s approach as combining “local insight with global expertise, careful due diligence, and tailored wealth planning” to match complex investments to individual goals and risk profiles. That means weighing potential growth against liquidity needs and the capacity to absorb volatility, drawing on international specialists when required. 

Business successors also require grooming to develop the knowledge and confidence to assume a business leader’s responsibilities. Financial literacy programmes and internships offered across Julius Baer’s network support that preparation. “These programmes can create a bridge between the parents’ legacy and the independence of the younger generation,” says Nitesh.

A lasting presence for changing times

Informed advice becomes particularly pressing during uncertainty. “When regional geopolitical tensions escalated earlier this year, we rapidly adapted our advisory approach by staying close to our clients and supporting them through the volatile market changes,” explains Shaj. “This is what our business is all about and why our clients appreciate us even more,” he says.

That response demonstrates Julius Baer’s commitment to remaining a trusted advisor to its clients in Bahrain. Our move to the Bahrain World Trade Center in 2024 and subsequent investment in growing our local team reinforce our commitment to forging strong bonds with Bahraini families that last for generations. 

The date palm seed captures what this anniversary looks towards: growth that continues beyond the generation that began it. Bahrain’s families will make different investment choices in the decades ahead, but they will continue to need advisers who understand them. Julius Baer is here to stay, committed to helping those families shape the next 50 years of their wealth.