Julius Bär to open Tel Aviv office
Swiss bank's Israel branch scheduled to be inaugurated in early 2012, joining global deployment specializing in private banking
The bank's Israel operations will be managed from Zurich by Dan Sagui, who took office in October as Israel global manager. As part of his job, he will be in charge of the Israeli activity in Zurich, Geneva, Singapore and Tel Aviv.
Julius Bär has been managing substantial assets for private clients for the past 120 years. The Israeli office, which is scheduled to be inaugurated in early 2012, will join the Julius Bär Group's deployment in some 40 financial centers in 20 countries, where it employs some 3,600 workers.
Executive board member Gustavo Raitzin, CEO Latin America and Israel, said that "after a thorough examination, we see potential in the developed Israeli market, giving us with an excellent opportunity to expand our circle of Israeli clients and the variety of services we provide them with."
Raitzin visited Israel last week as part of the preparations for the new office's inauguration.
Dan Sagui added that "the decision and the commitment to develop the bank's activity in Israel points to an acknowledgement and appreciation of the Israeli economy, properly reflecting its growth and prosperity abilities, as well as its economic and social potential.
