Under the terms of the agreement, BOC will refer clients with international private banking needs outside Chinese Mainland to Julius Baer. At the same time, clients of Julius Baer requiring banking services will be referred to BOC. The two partners also envisage cooperation in product distribution and financial market research as well as certain joint initiatives including investment conferences. In addition, Bank of China (Suisse) SA will be integrated into Bank Julius Baer.
Boris F.J. Collardi, CEO of Julius Baer, commented on the partnership with BOC: “The cooperation with Bank of China will lead Julius Baer to partner with one of the top players in Chinese Mainland and internationally. In addition, in future the partnership offers the potential for Julius Baer to gain further access to Chinese Mainland, one of the world’s most important and fastest-growing wealth markets.”
Li Lihui, Vice Chairman and President of Bank of China, added: “Our international private clients have become much more demanding in recent years. Julius Baer is for us an outstanding partner, our cooperation can better serve the needs of our clients with private banking requirements. The cooperation with Julius Baer instantly complements our existing private banking capabilities.”