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Manama, 4 December 2016 – Julius Baer, the leading Swiss private banking group, recently celebrated the 40-year anniversary of its presence in the Kingdom of Bahrain.  On this occasion Rémy A. Bersier, Head Emerging Markets and Member of the Executive Board of Bank Julius Baer, visited key members of the Bahrain Royal family in order to reiterate Julius Baer’s commitment to the Kingdom. Rémy A. Bersier also hosted a gala dinner to commemorate the occasion at the Four Seasons Hotel on 30 November 2016. More than 80 guests including clients and employees attended the event.

Julius Baer took over the Merrill Lynch office in Bahrain, which was established in 1976, and commenced its operations in the Kingdom on 9 December 2013. Since the acquisition, 95% of Merrill Lynch’s clients in the Kingdom have chosen to move over to Julius Baer, thus highlighting the recognition of the Bank’s underlying values, especially tradition, heritage, and innovation.

Commenting on the occasion, Daniel Ph. Savary, Head Middle East & Africa at Julius Baer, said: “As we look back at the past years, we are filled with pride at what has been achieved. Banking on Julius Baer’s rich heritage spanning 126 years, the Bank carried the legacy of history, trust, and loyalty cemented in the past 40 years in the aim of continuing to deepen its ties with clients in Bahrain and offer them bespoke advisory solutions. Given the opportunities in the Kingdom, we are confident that we are on a very promising growth trajectory. Being strategically located in close proximity to the Kingdom of Saudi Arabia, the Bank’s office in Bahrain enables us to enhance our ties with the region’s biggest economy.”

“We are proud to be one of the few global banks currently based in Bahrain providing bespoke wealth management services and offering our expertise to support our clients in promising but challenging circumstances. On this special occasion, we would like to thank them for their invaluable support, and also extend our gratitude to the highest government officials in Bahrain, without whom our success would not have been possible. Looking ahead, we remain dedicated to growing our business in the GCC as well as expanding our footprint in Bahrain,” he added.

Earlier this year, Julius Baer revealed a restructuring strategy that makes Dubai the hub for its Emerging Markets business, which includes countries in Central/Eastern Europe/CIS, the Middle East, India and Africa. This further showcases the importance of the GCC region and high-net worth clients present here within the Bank’s global strategy. To mark the anniversary, Julius Baer announced the hiring of four additional RMs to expand its footprint in Bahrain and cater to its expanding network of clients in the region.

Ahmed Mukhtar started as an RM at Julius Baer in Bahrain on 1 July 2016. He was joined by David Singh, who is also one of the team leaders on the ground, Kamran Naqvi, and Natalia Zhelyeznyak as of 7 September 2016, who all bring a wealth of local experience and knowledge in catering to clients’ needs and requirements.

Saman Habibian, Head GCC International and CEO Julius Baer Bahrain, said: “As Bahrain pursues its ambitious aspirations to transform itself into a knowledge-based economy, we remain dedicated to investing in our expertise in supporting the government’s long-term goals. Having said that, we are proud to be one of the few banks that is actively seeking to attract, nurture, and grow new talent, hence the strategic hires we have made to bring us even closer to our clients in Bahrain and the rest of the Gulf.”

“Bahrain is one of the leading and most diverse economies across the Arab region, and we are therefore determined to increase our market penetration here. I would also like to take the opportunity to thank His Excellency Rasheed Al Maraj, the Governor of the Central Bank, and the rest of his team for their constant support over the last few years. We look forward to another 40 years of success together,” he concluded.