Julius Baer has launched a hiring spree in Asia and recruited a large number of former BSI private bankers.

The Zurich-based private bank hired about 20 private bankers of Banca della Svizzera Italiana (BSI), according to a report by «Bloomberg», citing a person familiar with the recruitments.

The new hires are specialized in managing the wealth of non-resident Indians, «Bloomberg» reported.

«No Comment»

Julius Baer Chief Executive Boris Collardi previously said that more than half of the 200 private bankers his company would hire this year were destined for the Asian operations.

Julius Baer and EFG International, the new owner of BSI, declined to comment.