36 Vol. 19/18, May 2018

FEATURE JULIUS BAER

Julius Baer private bank CEO Bernhard Hodler on the

importance of the Middle East, how FinTech is changing

banking, and the risks of cryptocurrency trading

P

BANKING FOR

THE WORLD’S

ULTRA-RICH

RIVATE BANKING HAS ALWAYS

occupied a rarefied air, a

perception of polished cherry

wood doors and brass plaques

on a central London street. In a Middle East

context, though, it is more about accessing

the possibilities of the global economy in

an efficient, consistent and trustworthy

manner. The best practitioners, according

to Bernhard Hodler, CEO of Zurich-based

Julius Baer private bank, are those with the

ability to serve up those three elements

to individuals. Investment, he tells us,

is about returns rather than speculation.

By Bernd Debusmann

While Julius Baer was founded well over

100 years ago as a banking partnership in

Zurich, Switzerland, over the decades it

has grown to become one of the most

prominent private banks to ultra high-net

worth individuals (UHNWIs) all over the

world, with offices across Latin America,

Europe and the Middle East.

In January, the bank reported a net profit

for 2017 of $832m, with $22.7bn net of new

money– a 6.6 percent increase that

surpassed the bank’s own expectations – as

well as $400bn in assets under manage-

ment. The bank also continued to place a

FEATURE JULIUS BAER