SCB-Julius Baer, a wealth management joint venture between Siam Commercial Bank and Julius Baer in Thailand, hired HSBC private banker to lead its investment unit.
SCB-Julius Baer hired Joseph Caceres as head of investment advisory and solutions, according to a statement, with responsibilities for growth, development and strategy of the bank’s product suite.
Caceres was most recently with HSBC Private bank in Singapore where he spent over 13 years and was last its head of management investment solution and alternative investments for Southeast Asia. Previously, he worked with Deutsche Bank across its Singapore, Hong Kong and New York offices.
«We are confident that [Caceres] will effectively integrate his experience to develop investment advisory services and financial product offerings for our clients and create sustainable growth for SCB-Julius Baer’s wealth management business,» said CEO of SCB-Julius Securities Lalitphat Toranavikrai.
Risk On
According to Caceres, the bank remains positive on equities despite more expected volatility from the U.S. Presidential elections.
«We believe that the global economic recovery is on track, led by strong monetary and fiscal stimulus and later by a cyclical recovery on the back of a vaccine,» said Caceres.
«We believe longer-term structural shifts in the way we live and work will continue to drive the technology sector including across digital infrastructure, fintech, and healthcare. We advise clients to stay invested but remain well-diversified and have a preference geographically toward the US and China.»
