Julius Baer, the Swiss private bank, has announced a joint venture with Bangkok-based Siam Commercial Bank targeting UHNW clients in Thailand.
The new partnership, known as SCB Julius Baer Securities, described the venture as "a new operating rythm" for HNW wealth management in Asia. SCB Julius Baer Securities will assign a single relationship manager to each client in Thailand.
Lalitphat Toranavikrai, SCB Julius Baer's chief executive officer, said, "Aiming to lay a foundation of investment knowledge, the programme will help budding investors understand and become more familiar with world-class wealth management concepts and practices."
She continued: "This year's global investment and economic outlook continues to pose challenges and shifting paradigms as never before amid the unexpected Covid-19 pandemic that is affecting everyone. Following market fluctuations during the first and second quarter of this year, SCB Julius Baer began to see signs of economic recovery from economic indicators in the third quarter."