Mirabaud has poached a five-person team from Julius Baer as the Swiss group moves to expand its presence in Latin America.
According to Citywire Americas Fabio Kreplak, from Uruguay and Geronimo Escudero, from Switzerland, have been appointed as joint heads to lead Mirabaud’s wealth management drive across Latin America.
The two financial advisers spent 10 years at Julius Baer where they oversaw $700m for clients in Argentina.
Lucila Guelfi, junior relationship manager, and two adviser assistants previously based in Switzerland, will be working alongside Escudero and Kreplak at Mirabaud.
Julius Baer has also undergone a period of expansion, hiring 79 private bankers in the first six months of this year. The bank has embarked upon a global expansion plan, focusing on Europe, Asia and emerging markets, partly through acquisitions.
The Swiss bank plans to launch a holistic wealth service in Britain next year.
Commenting on the moves in Latin America, a spokesman for Julius Baer said: “We continue to have a strategy for sustainable growth in place for the region and are very confident that we will be able to retain client relationships.”
