Swiss-headquartered Julius Baer is expanding its operations in Russia in a bid to attract the country's millionaires after years of serving them from Switzerland. The wealth manager aims to get 200 new clients within the year after establishing a local entity in December, said Ewgeni Smuschkovich, market head for Russia, Central and Eastern Europe. The bank, which previously only had a representative office in Moscow, will hire six to eight relationship managers. "There are many clients in Russia who still keep their money in deposits rather than use financial consultants," he said. "...
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