Julius Baer is expanding its team in Portugal with the appointment of ten wealth managers in a move aimed at boosting the firm's business in the Iberian market.
The new team will be based in Madrid and will be developing and growing the market in the neighbour country on a cross-border basis.
The firm has appointed José Maria do Cazal-Ribeiro as market head Portugal and Gonçalo Maleitas Correia as team head Portugal domestic. Both will be reporting to Carlos Recoder, head western Europe, Julius Baer.
Julius Baer defines Portugal as a ‘develop’ market and is committed to investing in its growth."
GonçaloPinto Basto, Francisco Pimentel, Gonçalo Viana de Sousa, Luis Barata, and Salvador Roque de Pinho have been hired as senior relationship managers, while Luis Barreto Xavier has been appointed as an investment consultant. Ana María Da Silva and Maria João Abreu also join the Portuguese team of Julius Baer as assistant relationship managers.
As market head Portugal, José María do Cazal-Ribeiro will be responsible for developing and growing the Portuguese market at the firm. In his most recent position, he worked at Credit Suisse for 14 years where he established their Portuguese franchise with coverage in Lisbon and other international locations. Previous to that, he held Senior RM positions at Merrill Lynch International and Banco Espirito Santo.
Gonçalo Maleitas Correia, team head Portugal domestic, joins from Credit Suisse where he was the Lisbon branch manager and market head for several years. Prior to that, he worked for Banque Privée Edmond de Rothschild Europe where he was responsible for legal affairs, compliance, and business development.
Gonçalo Pinto Bastoalso comes from Credit Suisse, where he was a relationship manager for 14 years. After ten years working in investment banking, Gonçalo joined Merrill Lynch in 2000 where he was instrumental in helping to build the Portugal desk.
Francisco Pimentel also joins Julius Baer from Credit Suisse, where he spent six years. Previously, he was a relationship manager at Barclays Bank where he also had the opportunity to develop a business unit dedicated to serving UHNWIs from Portugal.
After complementing our local presence in Spain with a new office in Barcelona in April 2019, the hiring of this comprehensive senior team to cover Market Portugal is the next proof point of Julius Baer's continued investments in line with its smarter market coverage, said the firm in a note.
Carlos Recoder, head western Europe, said: "Julius Baer defines Portugal as a ‘develop' market and is committed to investing in its growth. With enhanced proximity to private clients and a unique pure private bank offering, Julius Baer is in a strong position to capture local market share in Portugal and further develop its existing client base. The hire of this comprehensive senior team demonstrates our long-term commitment to growing market Portugal."