Business Wire India - Multimedia: Digest for December 14, 2023

NewsVoir

Julius Baer India Relocates to State-of-the-art Office in New Delhi, Reinforcing Commitment to Growth Market Wednesday 19 July 2023 09:42 AM UTC+00 Julius Baer, the largest foreign wealth management firm in India, is proud to announce its move to a new office at Worldmark 2, Aerocity in New Delhi. This milestone underscores the firms five-year transformation strategy, announced in August 2022, which entails investments in people, products, operations, technology, and infrastructure. Julius Baer relocates to a state-of-the-art office in New Delhi Strategically positioned in a prime location in New Delhi, the new premise is equipped with cutting-edge energy-saving features with advanced infrastructure, central water points, reduced plastic consumption - all aligning with our unwavering dedication to long-term sustainability. With India poised to become the worlds second-largest economy by 2050, Julius Baer is confident of the immense growth opportunities present in wealth management in India. As part of the firm's strategic hub and spoke model, this office functions as a satellite location, continuing to play a crucial role in serving clients in the Delhi NCR region and various locations across North India. Rahul Malhotra, Head Private Banking Global India & Developed Market at Julius Baer, said, "Every day, India welcomes nearly three individuals who join the ultra-high net worth individuals (UHNIs) club, with net worth in excess of USD 30 million. As the number of millionaires in the country continues to grow rapidly, Julius Baer India will take this opportunity to extend our footprint. Our move to this cutting-edge office space is testament to our commitment to India and we are focused on delivering best-in-class wealth management solutions to our clients. Our comprehensive range of managed solutions include discretionary portfolio management and wealth planning services to sophisticated clients across North India - a critical market for the firm." Umang Papneja, CEO, Julius Baer India, said, "Indias wealth sector is valued at USD $600 billion and growing at a rate of 12% annually, yet only a quarter of this wealth is professionally managed. We are delighted to embark on this new chapter for our firm in India to access this opportunity. Located in a prime district, our new office in New Delhi offers excellent connectivity and enables us to establish even closer connections with our clients. With an expansive layout, the new premises provides an exceptional environment for collaboration, allowing us to come together to deliver an unparalleled and personalised experience to our valued clients. This modern workspace also offers an optimal setting for fostering innovation and creativity, and allows us to work on establishing a new standard of excellence within the wealth management industry." Julius Baer currently employs over 200 professionals and maintains a pan-India network with a presence in seven key cities. The firm aims to double its headcount and triple its assets under management (AUM) in India within the next five years. To add innovation and diversification to its existing product offerings for High Net-worth Individuals (HNIs) and Ultra High Net-worth Individuals (UHNIs), Julius Baer has recently applied for an Alternate Investment Funds (AIF) license. About Julius Baer Julius Baer is the leading Swiss wealth management group and a premium brand in this global sector, with a focus on servicing and advising sophisticated private clients. In all we do, we are inspired by our purpose: creating value beyond wealth. At the end of April 2023, assets under management amounted to CHF 429 billion. Bank Julius Baer & Co. Ltd., the renowned Swiss private bank with origins dating back to 1890, is the principal operating company of Julius Baer Group Ltd., whose shares are listed on the SIX Swiss Exchange (ticker symbol: BAER) and are included in the Swiss Leader Index (SLI), comprising the 30 largest and most liquid Swiss stocks. Julius Baer is present in around 25 countries and over 60 locations. Headquartered in Zurich, we have offices in key locations including Bangkok, Dubai, Dublin, Frankfurt, Geneva, Hong Kong, London, Luxembourg, Madrid, Mexico City, Milan, Monaco, Mumbai, Santiago de Chile, So Paulo, Shanghai, Singapore, Tel Aviv and Tokyo. Our client-centric approach, our objective advice based on the Julius Baer open product platform, our solid financial base and our entrepreneurial management culture make us the international reference in wealth management. For more information visit our website at www.juliusbaer.com.

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