A former Julius Baer banker is set to launch a new wealth management business in Monaco. Dubbed Azura, the wealth manager will mainly tend to billionaires, Bloomberg reports.
It will have nearly $2bn of advisory assets under management at its launch. The business will offer family office and investment advisory services as well as engage in club deals.
Ali Jamal, a 37-year-old former Kuwaiti army officer, was most recently head of key client emerging markets at Julius Baer. He joined the Swiss private bank in 2013 and has worked in Dubai and Monaco. He previously was at Credit Suisse Group AG.
He will be supported by Karim Lari and Ben Leung at the new firm. Lari, co-founded the Global Modelling and Analytics Group at Credit Suisse and Leung is the former head of trading and macro research at Broadpoint Asset Management.
Azura intends to have seven employees in London and Monaco this year.