The Swiss private bank is poaching from UBS and Credit Suisse to reinforce its efforts with wealthy Mexican clients. The move follows Julius Baer's ditching several troubled markets in Latin America.
Zurich-based Julius Baer is hiring Francisco Buch Torres and Rodrigo Vela Bezanilla as private bankers for its Mexico team, effective immediately, according to a memo seen by finews.com. A spokesman confirmed the duo's hire.
Torres, who Julius Baer is hiring as a senior relationship manager, was most recently a private banker to the ultra-wealthy at UBS. Bezanilla joins from Credit Suisse, where he tends to high-net work clients from Mexico on an advisory and discretionary basis.
Mexico is one of several newer focus markets for Julius Baer, which is still reverberating from a Venezuelan offensive which ended badly. Under regional boss Beatriz Sanchez, the Swiss wealth manager now targets Mexico, Argentina, and Brazil, and has pulled out of both Venezuela and Panama.
