The Swiss wealth manager is replacing a key lieutenant to Asia boss Jimmy Lee. 

Zurich-based Julius Baer is hiring Rahul Malhotra as its head of global India and developed markets, effective September 1, it said in an emailed statement on Tuesday. Malhotra, a top J.P. Morgan private banker in the region, replaces Torsten Linke, who is retiring after five years at the firm.

The move is a coup for Julius Baer, which has considerable ambitions on the subcontinent. Based in Singapore, Malhotra will have a wide remit covering onshore India, the Indian sub-continent and non-resident India, as well as Japan and the Asia team based in Switzerland, Julius Baer said.

Tying Together Oversight

The idea is for Malhotra oversee both onshore and offshore teams that serve clients from the Indian diaspora, Julius Baer said. He and Linke will work together for a time to ensure a smooth transition. 

Malhotra, who oversaw Southeast Asia at J.P. Morgan's private bank for a time, will report to Jimmy Lee, head Asia Pacific at the Swiss wealth manager. India is an important market for Julius Baer, the largest global manager in India-based of onshore assets under management.

Second Home Market

It has been expanding its domestic team, as well as its non-resident Indian offering.  Last autumn, the bank hired Vijay Solomon from Credit Suisse as its head for global India and developed markets, alongside a team of relationship managers.

Earlier this year, the firm expanded its onshore business in India with several hires, including a former IIFL executive and his team. The wider Asian region represents Julius Baer's second home market – and roughly one-quarter of its total assets.