Julius Baer to refer its investment banking transactions to Macquarie

In turn, Macquarie will refer its clients who need private banking services to Julius Baer.

According to a release, Julius Baer Group Ltd. and Macquarie Group Ltd. announced they had entered into a strategic collaboration agreement. Julius Baer is a Swiss private banking group and Macquarie is a global financial services institution headquartered in the Asia Pacific. The agreement is based on future private and investment banking opportunities in North and South East Asia.

Within the agreement Julius Baer will refer clients’ investment banking transactions to Macquarie. Macquarie will refer clients who require private banking services to Julius Baer and more of Macquarie’s investment banking products will be available to Julius Baer’s clients in Asia within the framework of Julius Baer’s open product platform. Additionally, Macquarie’s Asian Private Wealth business will be transferred to Julius Baer. Macquarie Private Wealth Asia has offices in Singapore and Hong Kong and manages total client assets of around USD 1 billion.

Boris F.J. Collardi, CEO Julius Baer, commented on the cooperation with Macquarie: “We are very pleased to enter into a cooperation with this leading global financial institution in Asia. This is another important step to expand Julius Baer’s footprint in the world’s most important growth region, underlining our commitment to Asia as our second home market. I am convinced that the cooperation will be highly beneficial for both partners and our clients.”

Nicholas Moore, CEO Macquarie Group, added: “We are delighted that our two organisations will have the opportunity to work together in Asia and we look forward to a productive relationship in the region as we combine our resources and expertise. We believe Macquarie’s deep specialist expertise in the Asia-Pacific region, developed over 42 years, will be of particular benefit to both parties.”