Julius Baer in Singapore has poached senior private banker Sachin Sood from Citi as it continues to expand in the city state.
Sood was at Citi for more than 16 years, latterly as a Singapore-based director in its international personal bank, which serves high-net-worth people residing outside of Singapore. He started out at Citi in India and then spent four years in California as a relationship manager for its non-resident Indian (NRI) business, according to his LinkedIn profile.
Julius Baer has been building its Global India team, which services NRI clients from hubs like Singapore, In June, it hired Singapore-based Rahul Malhotra from JP Morgan as the unit’s new global head. Other recent JB recruits in Singapore include Bipin Jacob Mathew from Standard Chartered, who also joined in June.
Chief executive Philipp Rickenbacher, speaking at JB’s results presentation last month, also singled out Global India as providing a “competitive advantage”.
Rickenbacher said he clearly envisages “further growth” across the business in Hong Kong and Singapore as JB strengthens its brand regionally.
Globally, Julius Baer will “continue to attract the top entrepreneurial talent in the industry – RMs as well as specialists and technology experts”, according to its H1 financial results. The bank will also invest in “developing junior RMs in-house”.
JB employed 422 RMs in Asia at the end of 2020, giving it the third largest RM headcount in the region, according to data from Asian Private Banker. Only Swiss rivals UBS and Credit Suisse employ more RMs in Asia.
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