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Julius Baer Expands in Britain as Rivals Plan Brexit Moves

  • Bank says two-thirds of U.K.’s wealth is held outside London
  • Zurich-based bank seeking experienced private bankers in U.K.
Pedestrians pass the headquarters of Julius Baer Group in Zurich.

Pedestrians pass the headquarters of Julius Baer Group in Zurich.

Photographer: Gianluca Colla/Bloomberg
Updated on

Julius Baer Group Ltd., Switzerland’s third-largest publicly traded private bank, is expanding in Britain at a time when other lenders are fleshing out plans to move some employees to continental Europe in response to Brexit.

The Zurich-based lender has hired client advisers for offices opening this year in Manchester, Leeds and Glasgow, giving businesses and wealthy individuals based in and around the three cities access to a local team of private bankers, the company said in a statement on Thursday. Two-thirds of the U.K.’s wealth is held by people outside of southeastern England, it noted.