SCB Julius Baer welcomes top senior executives from Julius Baer Group and Siam Commercial Bank

Thursday 24 November 2022 10:07
SCB Julius Baer welcomes top senior executives from Julius Baer Group and Siam Commercial Bank, reaffirming its ambition to expand its Thailand wealth management business
SCB Julius Baer welcomes top senior executives from Julius Baer Group and Siam Commercial Bank

SCB-Julius Baer Securities Co., Ltd. (SCB Julius Baer), a joint venture between Siam Commercial Bank, the first Thai bank, and Julius Baer, a leading global wealth management business from Switzerland, recently opened its doors to senior executives from both Julius Baer Group and Siam Commercial Bank to attend its board meeting and discuss the strategic growth direction of its wealth management business in Thailand. The Company is fully committed to establishing itself as the go-to wealth management business for ultra-high-net-worth individuals (UHNWIs) and high-net-worth individuals (HNWIs) in Thailand.

SCB X PCL Chief Executive Officer Arthid Nanthawithaya in his capacity as Chairman of the Board of SCB-Julius Baer Securities Co., Ltd. said, "The wealth management business in Thailand has been expanding rapidly over the past several years, notably among UHNWIs and HNWIs with assets over 100 million Thai baht. We foresee this growth trend continuing, reflecting the optimistic market outlook for our businesses. Delivering excellent wealth management solutions and services are an integral part of the Company's plan for long-term success. SCB Julius Baer has our full confidence in their ability to support us in developing and expanding our wealth management operations to meet our objectives."

SCB-Julius Baer Securities Co., Ltd. Chief Executive Officer Lalitphat Toranavikrai noted, "Our dedication and commitment to growing our wealth management company in Thailand was demonstrated by the presence of top executives from the Julius Baer Group and Siam Commercial Bank at our latest Board meeting where we discussed strategic growth plans. Our established team of investment planning experts with knowledge, experience, and a deep understanding of high-net-worth customers in Thailand and backed by Julius Baer's international world-class wealth management standards, enables us to advise key clients in Thailand on how to most effectively achieve their investment goals despite challenging global market conditions. As a result, our AUM continued to grow as a result of both the steady additions of new clientele and the continued contributions from our existing clientele."

Philipp Rickenbacher, Chief Executive Officer of Julius Baer Group Ltd., remarked, "I am delighted to make my first visit to Thailand since the pandemic to meet with colleagues at SCB Julius Baer as well as re-connect with our key clients here. Julius Baer is fully committed to growing in Asia, our second home market, as well as in Thailand, where the demand for global wealth management expertise continues to grow."

Jimmy Lee, Member of the Executive Board, Julius Baer Group Ltd. and Head of Asia Pacific, Bank Julius Baer, and Member of the Board of Directors, SCB-Julius Baer Securities Co. Ltd., added, "I am confident there are significant opportunities for us to leverage in the Thai wealth management market as clients seek to diversify their investment portfolios and place increasing importance on wealth planning solutions. This outlook bodes well for the SCB Julius Baer team, and we look forward to continuing our close partnership to access the untapped prospects in this key market."

Source: SCB-Julius Baer Securities