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Zurich/Johannesburg, 8 November 2018 – Julius Baer has opened an Advisory Office in Johannesburg, Julius Baer (South Africa) Proprietary Ltd.

The leading Swiss private banking group will employ seven local employees in the South African capital, of which five are experienced relationship managers joining from RMB Private Bank, Barclays Africa (Absa) and Nedbank.

The physical presence in Johannesburg will allow Julius Baer to offer fully licensed investment advice to private clients in South Africa in order to give them access to its full breadth of sophisticated advisory and investment solutions.

Daniel Savary, Head Middle East & Africa, Julius Baer, said: “On the African continent, South Africa has the largest high net-worth individual population of 92,000 – according to Capgemini’s World Wealth Report 2018 – and it is a growing market. We are delighted to be able to provide them with our advice and help them to develop investment solutions based on our in-house expertise and our open product platform.”

Rémy Bersier, Head Emerging Markets and Member of the Executive Board of Bank Julius Baer & Co. Ltd., added: “As part of our focused growth strategy, we have identified South Africa as one of the markets we want to invest in. It does offer promising potential, which we want to develop over the long-term, with our local team and the support of Julius Baer’s specialists around the world.”