Swiss private bank Julius Baer is expanding its regional presence in the Middle East and plans to open an advisory office in Qatar.
In order to capture the next wave of growth in the middle east, Julius Baer announced Tuesday that it plans to open an advisory office in Qatar Financial Center, and is working with the appropriate authorities during the incorporation and application process.
To spearhead the expansion, the Swiss private bank has hired Slim Bouker who will lead the advisory office once regulatory approvals and those for his appointment are in place. Bouker joins the firm from Doha Bank's wealth management unit where he was head of private banking. He will report to Alireza Valizadeh, CEO of Julius Baer (Middle East).
«Currently, we’re seeing the emergence of the next generation of clients – a generation that likes to look beyond the traditional ways of wealth preservation, especially in Gulf Cooperation Council (GCC) countries such as Qatar,» says Valizadeh.
«We have grown our Middle East business by leaps and bounds in the past decades and this move will support our next phase of growth and development in the region. Over many years, Qatar’s story of growth has been as impressive as it has been successful, creating a diversified national economy supported by its natural resources,» says Régis Burger, Julius Baer's global head Middle East & Africa.
Sports Hub and Swiss-ness
«In addition, the country has made great strides in its efforts to become a sports and education hub in the Middle East, while promoting an ambitious art program through its cultural institutions. I am confident that our Swiss heritage, coupled with our regional expertise, will help us to reach great heights in this promising market,» Burger added.
As part of the efforts to become a sports hub, Qatar is hosting the soccer world cup from November 21 through December 18.
