Arabian Business – May 06, 2018

38 Vol. 19/18, May 2018

FEATURE JULIUS BAER

showed our commitment to the region.

It’s important to us and has contributed

very nicely to our growth over the years.”

Since then, the bank’s operations in the

region have grown exponentially, with the

Dubai office now boasting 120 employees,

in addition to smaller offices in Abu Dhabi,

Beirut and Bahrain. Hodler says that the

company has more room to grow and is

working to hire 80 new relationship

managers this year.

“We don’t disclose how many in which

areas of the world, but since this is one of

“This is one of the

growth areas and

has contributed

substantially to

new net money. We

want to continue

to grow here”

$832m

Julius Baer’s net profi t in 2017, a 17.5

percent increase over the previous year

u Julius Baer opened an offi ce in 2004 when DIFC fi rst opened in Dubai

u Nic Dreckmann, Julius Baer’s chief operating

offi cer since July 2016

strong emphasis of mergers and acquisi-

tions, acquiring a 95 percent stake in

Reliance Group, a Brazilian wealth

management company. Growing its own

portfolio was a prime concern, too.

A commitment to the region

Speaking to Arabian Business during a visit

to the Julius Baer office in Dubai

International Finance Centre (DIFC),

Hodler says the bank has long been

committed to serving the needs of the

Middle East’s – and in particular the Gulf’s

• UHNWIs. “The bank has always had
  clients from this region, but served them
  traditionally from Switzerland, mainly
  through Geneva, Zurich and other
  locations,” he says.
  “Then in 2004 we decided to open an
  office here, when DIFC was launched. We
  were the first ones to get a license. That