Julius Baer has added to its Hong Kong work force by hiring from a fellow Swiss private bank.
Nelson Ip has joined Julius Baer in Hong Kong, finews.asia has learned. Ip was previously director of products and services at UBS.
He worked with UBS in Hong Kong for over nine years, most recently working with ultra-high net worth clients. Previously, Ip was vice president of investment products at Bank Sarasin in Hong Kong.
A Julius Baer spokesperson confirmed the hire.
Selective Hiring
Zurich-based Julius Baer, which calls Asia its second home, has hired aggressively over the past few years in both its Singapore and Hong Kong hubs.
In its recent first half 2017 report the bank said it was still hiring, though more selectively while also strictly managing poor performers.
As well as greater China, Julius Baer has recently established a business subregion for emerging Asia, including the Philippines and Thailand – markets other Swiss wealth managers have been targeting.
Fall at UBS
UBS in its half year report published last week recorded a slight fall in the number of client advisors in Asia.
The region's largest wealth manager reported 1,008 private bankers in the second quarter, compared to 1,025 in March.
