Swiss private bank Julius Baer is expanding in the UK with three new offices.
At a time when many international banks are seeking to shift resources from the UK ahead of Brexit, Julius Baer is heading in the opposite direction.
The bank recently reported a boost to net inflows from clients in Asia, the Middle East and Monaco.
But the Zurich-based firm is turning its focus to Manchester, Leeds and Glasgow, where it will be opening new offices. It is also expanding in Belfast.
Announcing the expansion, Julius Baer noted that two-thirds of the UK’s wealth is held by individuals based outside of London and the south east.
“The UK, with its deep pool of talent in financial services, is a strategic location for investment and growth,” said Yves Robert-Charrue. “We are committed to building a strong business for the long term and serving clients across the whole country.”
David Durlacher, chief executive of Julius Baer International, said: “We are excited to make such an important addition to Julius Baer's already strong UK business.
“I am delighted we have attracted a number of very high calibre individuals and especially that we will be able to form strong and lasting client relationships across the country.”
The announcement from Julius Baer comes a day after Asian merchant bank Ion Pacific said it was expanding into Europe with a London HQ.