Swiss private bank Julius Baer said it will open an advisory office in Abu Dhabi, aiming to cater to the ultra-wealthy and family offices.
The wealth management group has received in-principle approval to open an office in Abu Dhabi Global Market, according to a statement. The new entity will be led by Amir Iskander, who previously held roles at Abu Dhabi Commercial Bank, Union National Bank, and Citigroup.
Julius Baer joins a growing group of global firms setting up offices in Abu Dhabi as the emirate increasingly becomes a magnet for global capital. Abu Dhabi is home to some of the world’s biggest sovereign wealth funds and family offices.
Julius Baer’s “decision to establish an office in our international financial centre is a strong vote of confidence in Abu Dhabi’s rise as a global financial nexus for wealth and asset management,” ADGM Chairman Ahmed Jasim Al Zaabi said in the statement.
The Swiss firm has been active in the Middle East since 2004, with offices in Dubai and Manama.
