Julius Baer Group Ltd. (VX: BAER) and Macquarie Group Ltd. (Macquarie, ASX: MQG) today announced they had entered into a strategic collaboration agreement. Julius Baer is the leading Swiss private banking group and Macquarie is a global financial services institution headquartered in the Asia Pacific. The agreement is based on future private and investment banking opportunities in North and South East Asia.
Within the agreement Julius Baer will refer clients’ investment banking transactions to Macquarie. Macquarie will refer clients who require private banking services to Julius Baer and more of Macquarie’s investment banking products will be available to Julius Baer’s clients in Asia within the framework of Julius Baer’s open product platform. Additionally, Macquarie’s Asian Private Wealth business will be transferred to Julius Baer. Macquarie Private Wealth Asia has offices in Singapore and Hong Kong and manages total client assets of around USD 1 billion .
Boris F.J. Collardi, CEO Julius Baer, commented on the cooperation with Macquarie: “We are very pleased to enter into a cooperation with this leading global financial institution in Asia. This is another important step to expand Julius Baer’s footprint in the world’s most important growth region, underlining our commitment to Asia as our second home market. I am convinced that the cooperation will be highly beneficial for both partners and our clients.”
Nicholas Moore, CEO Macquarie Group, added: “We are delighted that our two organisations will have the opportunity to work together in Asia and we look forward to a productive relationship in the region as we combine our resources and expertise. We believe Macquarie’s deep specialist expertise in the Asia-Pacific region, developed over 42 years, will be of particular benefit to both parties.”
With this latest move Julius Baer continues its ambitious growth strategy in Asia. Only recently, the Bank has published the ‘Julius Baer Wealth Report: Asia’, providing a comprehensive and exclusive analysis of the High Net Worth Individuals (HNWI) landscape in this region. Julius Baer has been granted a representative office licence in Shanghai by the China Banking Regulatory Commission and remains the only private bank to hold a QFII licence by the China Securities Regulatory Commission.
Macquarie offers a full suite of banking, financial advisory, investment and funds management services in the Asia-Pacific. It continues to grow its Asia-Pacific franchise and broaden its product and geographic reach with approximately 10,000 staff in 26 locations across the region. In recent years Macquarie has been a manager on some of the largest IPOs in Asia, including the listing of Agricultural Bank of China.
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