Julius Baer launches new initiatives in the Greater China
Mr Chao is a veteran private banker with over 25 years of banking experience. He will be responsible for further growing Julius Baer’s client capabilities within the Greater China region. He joins Julius Baer from Deutsche Bank AG where he was, until recently, Head Private Wealth Management - China, based in Shanghai, and previously Head Private Wealth Management Onshore - Taiwan, based in Taipei.
CEO Asia, Dr Thomas R. Meier, commenting on the new appointment, says “We are delighted that Victor Chao is joining our team. The Greater China market is a top priority for the bank, and we are confident that a high calibre banker of Victor’s stature will add strength to the capabilities of our team to maintain the growth of our business in this key market. I am also very pleased to announce that Catherine Tseng will act as the Head of Key Client team which is a new position developing relationships with Key Clients as we are confident that Julius Baer’s range of services and open product platform can be further customised to meet the expanding needs of these large established clients.”
Julius Baer recently launched its inaugural Julius Baer Wealth Report focusing on Asia. From the figures detailed in the report, the Greater China region is set to contribute significant global growth in High Net Worth Individuals (HNWI). China alone is forecast to have HNWI wealth of USD 8.76 trillion and 1.4 million HNWI by 2015. Adding to this the growth trajectory for Hong Kong (growth of 8.7% over 5 years) and Taiwan (14.4% growth over 5 years), the Greater China market could represent 1.65 million people holding USD 10 trillion of wealth by 2015.
Bank Julius Baer continues its ambitious growth story to make Asia its Second Home Market. Recently the bank was confirmed as the 2011 winner of the Triple A award for “Best Boutique Private Bank” in Asia by The Asset, a leading regional industry trade magazine.
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