Swiss private banking group Julius Baer has set up a new office in the Spanish city of Barcelona.
The new location marks the private bank’s second office in the country.
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The bank also has an office in Madrid, which opened in 2013.
Julius Baer head of Iberia Carolina Martínez-Caro said: “This opening responds to the appetite we have detected in the Catalan region, which increasingly demands specialised advice such as the one we are offering.”
The bank hired José Ángel Oliver, Roberto Murgui, Josep Rocadembosch, and Carlos Vítores as senior relationship managers for the new location.
Oliver formerly worked at Banif (Santander Private Banking), Lloyds, Citi and UBS.
Murgui had stints at Lloyds Bank, UBS, and Citibank Private in Barcelona.
Rocadembosch served in Sabadell or BANIF, as well as UBS.
Vítores previously worked at Credit Suisse, where he spent over 13 years.
Overall, Julius Baer now employs over 60 professionals in Spain and intends to increase the headcount soon.
Julius Baer head of Western Europe Carlos Recoder said: “The opening of the new office in Barcelona responds to our growth plan in Spain, one of our core markets.
“We have identified a lot of potential for our business acquisition; hence, we allocate significant resources and a comprehensive service offering to meet the demands of our clients in the area.”
Last November, Julius Baer opened an advisory office in Johannesburg, South Africa.
Meanwhile, it quit the markets of Venezuela, Panama and Peru.
