Barclays and Julius Baer expanding their wealth management businesses

Barclays and Julius Baer expanding their wealth management businesses

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Britain’s Barclays and Julius Baer of Switzerland came on targeting the International Wealth Management business of Credit Suisse as these two banks have been hiring a total of 14 bankers while that business unit of Credit Suisse saw its head Iqbal Khan leaving the bank in July.

For Switzerland, Barclays is in plans of head hunting to expand its private banking business as it announced on Tuesday of being hiring six new employees for Zurich, out of which three will be helping the bank launching a new Israel desk attached to its Swiss financial hub.

Out of six newly hired bankers, four have been joining the Barclays from Credit Suisse including Amit Ben Sira who will be heading its newly created Israel desk, as show commercial registry filings and their LinkedIn profiles.

In order to further excel and for bank’s growth strategy in Switzerland and for capturing more of the opportunities that a financial hub like Zurich has been providing, Barclays is aiming hiring best talent available in the market, said Gerald Mathieu, Swiss head of Barclays.

Meanwhile, Julius Baer in a statement said that it has hired 10 wealth managers, who were previously the part of Credit Suisse, for development of its Portuguese business that will be part of its Madrid unit and announced that Maria do Cazal-Ribeiro will become market head for the country.

Hiring of broader team of senior level shows the Baer’s long-term commitment to Portugal’s expanding market, and Baer considers Portugal as a strategically important market where it needs to be further develop its business and is also committed to play role its growth with making further investments, Carlos Recoder, Baer’s head of Western Europe, said in a statement.

Credit Suisse confirmed the departure of its employees but added that those took place well before summer.

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I am an independent trader currency and commodity with about eight years of experience. I love the financial world because it is like one big puzzle and I hope we help each other out to solve the puzzle to help us realize our dreams. I received my BBA in Accounting (With Honors) - from The University of Texas - San Antonio. Achievements: Beta Alpha Psi National Accounting Honors Fraternity member, Leadership Challenge Participant, Dean's List. I have passed the Series 63, 22, Texas Real Estate exam, and the DRI Business Continuity exam.

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