Tue, Jun 7, 2022

Business, Banking & Finance
Julius Baer plans expansion into Qatar

Julius Baer, a leading Swiss wealth management group, has announced its plans to tap into the Qatar market by opening an Advisory Office in the Qatar Financial Centre, subject to regulatory approvals.

The bank is currently working closely with both the Qatar Financial Centre Authority and the Qatar Financial Centre Regulatory Authority (QFCRA) for the incorporation and application process, it said.

Julius Baer has hired Slim Bouker to support its ambition to expand into Qatar and lead the Advisory Office, once all regulatory approvals for the office and for his appointment are in place.

Bouker joins Julius Baer from Doha Bank’s wealth management arm where he was Head of Private Banking. In his role at Julius Baer, he will report to Alireza Valizadeh, Chief Executive Officer, Julius Baer (Middle East) Ltd.

Régis Burger, Global Head Middle East & Africa at Julius Baer, commented: “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. 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 programme 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.”

Valizadeh added: “Julius Baer is an established name in the Middle East with a strong position in the region. 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. Through our local presence, plus our long history in wealth management and wealth transfer between generations, we’re perfectly suited to meet the needs and requirements of this new client group. I am very pleased to welcome Slim to the Julius Baer family and I am confident that his experience and knowledge of Qatar will help us achieve our ambitious goals.” - TradeArabia News Service

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