Recently hit with a walkout at its Middle East wealth arm, Swiss private bank Julius Baer has turned poacher in Spain.
Private banking growth is nearly only possible by acquisition: of banks, assets, or advisers. Julius Baer exemplified each type of growth during its heady expansion from 2009 until last year, and is now on the receiving end of the same treatment, as finews.com reported on Saturday.
But the Swiss private bank is also still landing recruiting coups of its own: Julius Baer won a team of three onshore private bankers, Juan José Quintana, José Casasayas Moro and Ignacio Calderon Aguado, in Madrid, it said in a statement on Tuesday.
The hires represent a coup: the three are currently with UBS, where they possess a collective 42 years of seniority. Carolina Martinez-Caro, who runs Julius Baer's onshore arm, is responsible for the hires. Quintana, Moro, and Aguado will all report to her.
