Swiss wealth management group Julius Baer has secured the regulatory clearances to open a new branch of Bank Julius Baer Europe (Julius Baer Europe) in Lisbon, Portugal, in the last quarter of this year.
Julius Baer Europe has a footprint in several major cities, including Madrid, Dublin, Barcelona, and Milan.
According to the firm, the new Lisbon office will be situated at Avenida da Liberdade 196, and will provide services to ultra-high and high-net-worth clients in the country through a team based locally.
The initiative to expand into the Portuguese market began in 2019 when a senior team joined to spearhead market development from Madrid.
The move to the Lisbon office is planned for January 2026, at which point the existing team will relocate to the new location.
Bank Julius Baer & Co Western Markets & Switzerland co-head Carlos Recoder: “We are excited to set up an own local presence in Lisbon and continue to rely on our strong leadership team for market Portugal.
“With this move, we are showcasing our ongoing commitment towards this promising growth market. By further increasing our network, we are also strengthening our position as a leading wealth manager in Europe. I very much look forward to continuing to build on the success of the team.”
The Swiss firm boasts a global presence in approximately 25 nations and 60 locales, with its headquarters in Zurich and offices in major cities worldwide.
In May, Julius Baer appointed Shui Wei HO and Vi Sun YANG as market heads for South East Asia.
In June, the company announced its new financial goals for the coming three-year period, including SFr130m ($159m) in cost cuts by 2028.
