Swiss private banking group Julius Baer has formed a joint venture (JV) with Thailand’s Siam Commercial Bank (SCB) to offer wealth management services to customers in the Southeast Asian country.

The move will offer the Swiss bank access to the wealth market in Thailand, which according to the BCG Global Wealth Report 2017 is currently valued at about $300bn.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Julius Baer will initially own a 40% stake in the JV, which is subject to regulatory approvals. The Swiss bank will also have the option to raise its stake to 49% eventually.

Julius Baer member of the executive board and head of Asia Pacific Jimmy Lee said: “We recognise that the Thai client community is increasingly seeking sophisticated advisory, investment demands and global solutions.

“We believe that the combination of SCB’s long-standing experience, expertise and brand heritage with Julius Baer’s leading independent global private wealth management capabilities, will offer a unique value proposition specifically tailored to the demands of Thai clients.”

The venture will operate through both domestic and international firms in Thailand as well as Singapore.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

SCB president and CEO Arthid Nanthawithaya said: “This partnership is our first international move under the new ‘Going Upside Down’ strategy where a new banking platform is developed and introduced. With a long-term strategic partnership structure with SCB, Julius Baer is committed to dedicating their resources to Thai clients, allowing us to deploy their full international wealth management capabilities into Thai market like never before.”