Winners rationale

Julius Baer demonstrated a formidable performance in 2021 in terms of asset gathering and platform development.
Figures shared with Asian Private Banker’s judging panel during the awards process showed that net new money in the year during the period under review for Julius Baer in South Asia exceeded any comparable figure provided in other submissions for this category.

The bank has enjoyed an acceleration in asset gathering in Southeast Asia and other emerging parts of the region. Its joint venture in Thailand, SCB Julius Baer, has made impressive strides since it was established in 2019. Revenue and clients more than doubled year-on-year during the period under consideration for the Awards for Distinction, while assets more than tripled.

At least part of the lender’s success in attracting net new money and growing assets in 2021 can be attributed to the not only robust, but consistent performance of its discretionary mandates. Julius Baer, which has among the highest penetration rates for these solutions in the region, delivered strong double-digit returns on an absolute basis during the year across mandates ranging from Global Excellence, to Equity Sustainability, and Next Generation, even as volatility hit broader markets.

Among the enhancements to Julius Baer’s platform during 2021 was its alternatives offering, which was able to provide clients with access to leading technology unicorns and private equity funds, often exclusively. Deals that the bank managed to secure on behalf of clients included a US videogames company heavily involved in the development of the metaverse megatrend, as well as a well-known space exploration group. Data seen by the judging panel indicated that these opportunities were heavily subscribed by Julius Baer clients.

Julius Baer is seeking to position technology at the heart of its future offerings in South Asia. In 2021, the lender set up its Innovation Lab, Launchpad, in Singapore, becoming the first pure-play private bank to do so in the region, alongside a clearly defined three-year roadmap for enhancing its already best-in-class client experience. Among the digital services coming out of Launchpad are the use of machine learning and artificial intelligence to generate investment ideas for RMs and ICs via the bank’s Vantage platform that can then be shared with clients.

The quickened trajectory of Julius Baer in the region comes two years after the bank hired Jason Moo to run its operations in the region.

The bank also peppered its year with the several notable banker hires in key markets. In June 2021, Julius Baer appointed Rahul Malhotra to lead its Global India business as head of both onshore and offshore teams. In November, Kevin Tay rejoined the Swiss bank as head of its wealth planning team in Singapore.

For all of these reasons, Bank Julius Baer is Asian Private Banker’s Best Private Bank – South Asia for 2021.