Swiss bank Julius Baer has appointed former Israeli defence minister Ehud Barak as a special consultant for its office in Israel, Hebrew daily Yediot Ahronot reported.

Julius Baer, which opened an office in Israel in early 2012, has hired Barak to help it establish business ties with Israel’s wealthiest people.

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Julius Baer founded the bank that bears his name in 1890, and it is currently managed by his descendants.

The bank specializes in private banking, including family wealth management and is represented in 20 countries.

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