Swiss private banking group Julius Baer has named Raymond Li as the new group head of its Greater China business.

Ray joins from Standard Chartered Private Bank, where he served as the market head of Hong Kong for 12 years.

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In his private banking career of more than two decades, he also held senior wealth management positions at Barclays Private Bank and Lloyds Bank.

In the new role, he will be tasked with driving the growth of Julius Baer’s franchise in Greater China operating out of Hong Kong and reporting to the head of private banking for Greater China, David Shick.

“Greater China is one of the fastest-growing wealth creation markets. The demand for wealth management services is intensifying. We will continue to attract the top and right talent to further strengthen our Greater China franchise,” Shick noted.

Other leadership changes at Julius Baer

Since the start of this year, Julius Baer made several changes to its management team.

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Last month, the bank announced plans to trim its headcount by 2% in a cost-cutting drive.

This January, Julius Baer chairman Daniel Sauter unveiled plans to step down after holding the position for seven years.

In the same month, the bank also appointed Regis Burger and Alain Ucari.

While Burger was named as the head of the bank’s Middle East business (including Levant), Ucari was handed over the baton of Africa and Turkey businesses.