Doha: Julius Baer, a globally accredited Swiss wealth financial company has commenced its services after obtaining license from Qatar Financial Centre (QFC) to open its advisory office in Qatar. This will be the third branch in the Arab region to operate in addition to the offices in the UAE and Bahrain.
During a press conference held at the Qatar National Library (QNL) yesterday, H E Edgar Dorig, the Ambassador of the Swiss Confederation to Qatar; Yousuf Mohamed Al Jaida, Chief Executive Officer, QFC; Phillip Rickenbacher, Chief Executive Officer of Julius Baer; Regis Burger, Julius Baers’ Middle East & Africa Global Head; and Slim Bouker, Chief Executive Officer of Julius Baer (QFC), took part along with other officials.
Speaking on the services it offers in the financial sectors for clients worldwide, Rickenbacher said: “We will be locally rooted here in Qatar with a great team but we are also a global power house with 7,000 experts all across the globe and we make available to our clients where we can bring the best of financial services and beyond into the families and into family-offices of our clients”.
Rickenbacher explicated on the significance of fostering branches in the Middle East due to blooming economy and well-built infrastructures in addition to safety and securities. Expressing his keenness by introducing the office in Qatar, he stated: “The region has matured as a destination for global financial institutions when it is also fast-becoming the home to an entrepreneur community in growing industries such as Fintech, energy and digital economies as well”.
The wealth management group would benefit from the enhancements on various activities in Qatar including business, sports, culture and arts according to Rickenbacher. “We believe that these developments will definitely have a presenting impact not only on local communities but also international investors and businesses that are active in the Middle East markets,” he added.
He also expounded on the vitality of connecting the services to the “young and dynamic generation” as many future entrepreneurs would benefit from this.
Speaking to the media, Slim Bouker emphasised on the country’s arts and culture and how it is connected to the story of Julius Baer. He said: “At Julius Baer we are proud of our art collection, which was started over 40 years back and holds 5,000 pieces of contemporary space arts across all of our offices”.
With the opening of its branch in Qatar, the entity anticipates promoting more towards these sectors with cooperation through its partners.
“Today the announcement of our partnership with Qatar Foundation and WISE is aligned with Julius Baer’s global community to local communities and toward education, art and culture,” he added.
As the Swiss wealth group prepares to embark on financial services in Qatar, the company expects to benefit from the country’s economy, enhanced infrastructures and other key activities.
Speaking to The Peninsula, Bouker said: “We align our products and services to the market where wealth is abundant but at the same time our presence in Qatar is very unique. For us it as an opportunity to network with global community and the economy in Qatar is very robust. Qatar is a hub for business, travel and culture".
Julius Baer in Qatar, which hopes to serve its global and local clients, is located at Doha’s Tornado Tower. The value of assets under the Company reached CHF 457bn by the end of April 2022, according to QNA.
