Swiss pure-play Julius Baer is reportedly boosting its hiring efforts in Asia to capitalize on China’s reopening.
Hiring in Asia is ramping up at Julius Baer concurrently with the end of China’s three-year zero-Covid policy regime.
«We are clearly hiring in Asia, where we have a full pipeline in Hong Kong and a full pipeline in Singapore. This will change the game as now China reopens,» according to a «Bloomberg» report citing CEO Philipp Rickenbacher.
Offshore Focus
Unlike some of its peers who are taking advantage of China’s opening financial sector, including in wealth management, Rickenbacher noted that Julius Baer has «no immediate plans» to enter the onshore market.
«We have a very strong offshore franchise and we want to keep it that way,» he added.
In 2022, Julius Baer registered negative net new money in Asia due to de-risking in volatile markets with net inflows in the second half partly offsetting net outflows in the first half.
