Русская версияPrint versionContent... +65 6696 7068 info@meridian103.com PDA
103 Meridian East Magazine
103 Meridian East » Business »  Asia as a second home
DiplomacyBusines$HistoryLifestyleTraveller's NotesFacts & FiguresFaces of RussiaLeisure/TravelMade in Singapore
Business

ASIA AS A SECOND HOME

Thomas Meier

103rd Meridian East speaks to Dr. Thomas R. Meier, Chief Executive Officer Asia & Middle East and Member of the Executive Board, Julius Baer, the leading Swiss private banking group, about Singapore being a wealth management platform for both Asian and European clients.

Dr Meier, Julius Baer is a leading Swiss private banking group with a long heritage. What made you decide to set up an office in Singapore?
As a Swiss banking group that manages the wealth of private individuals, Julius Baer wanted to be closer to the action, to the place where new wealth is being generated: Asia. Today, Asia's economic growth of seven per cent is globally unparalleled and is in striking contrast to the struggle in which Europe currently finds itself. In terms of volume, credit and transaction, Asia is leading today, rather than Europe.
Asia's growing economy offers immense opportunities in which people wish to participate. Julius Baer, naturally, wanted to establish its presence in the Asian region, which today is notable for an ever-increasing number of high networth individuals, who require professional assistance in managing their wealth.
The Asian region is attracting a lot of attention these days due to its numerous emerging economies with enormous potential. If you want to be successful and more credible in Asia, you must have your office in Asia. This is because proximity to the client is key, since the once-popular offshore method is history.
Currently, there are two major financial hubs here: Hong Kong and Singapore. The latter has numerous advantages: it boasts a well-established banking system and credible legislation, English is the language of business here, and business is conducted with ease and professionalism. Over the years, Singapore has emulated the Swiss concept in terms of banking culture, therefore, it was natural for Julius Baer, as the leading Swiss private banking group, to establish its regional office here.
What is the major difference between Julius Baer's Asian and European clients?
It basically boils down to the concept of "old money" and "new money". In Europe, our clients are usually of retirement age, i.e. in their 70s. They have inherited their wealth rather than acquired it themselves, so they are in the wealth preservation phase. European clients tend to trust a bank with a track record and that has been with the family for generations.
In Asia, our clients here are still building their wealth. They are more entrepreneurial and risk-loving. They represent "new money" – they are in the first or second generation and are in the wealth creation or accumulation phase.
What can you say about the Russian clients of Julius Baer in Singapore?
While many Russians have been coming to Singapore increasingly for holidays and medical check-ups, wealthy Russian investors tend to regard Singapore as an alternative for relocation (a second home base) due to their wish to participate in Asia's unprecedented growth.
Most Russian wealth has been built in the last 20 years, after Russia made a turn for a free economy and open market. This is why rich Russians are in the first phase of wealth generation. Like Asians, they have a strong entrepreneurial drive and, unlike Europeans who find comfort in a bank as an institution for asset management, Russians value the personal relationship with a bank representative. They develop a strong personal connection with the person helping them increase their wealth, and we, at Julius Baer, are well aware of this phenomenon.

Julius Baer's Success Story in Singapore
Singapore is the Bank's second home market outside of Switzerland and its Julius Baer's largest operation in Asia. Julius Baer Singapore, which is the centre of competence for the Bank's Southeast Asian operations, was established in 2006. Starting with just over 30 employees, the Bank presently occupies two buildings in separate locations to accommodate its rapid growth.
It now employs more than 400 people across Asia, which comprises 10 per cent of the Bank's total employees, and plans to move to a new office location at Asia Square by the end of 2011. The new office will have the capacity to house 700 employees, which reflects the Bank's investment in and commitment to the region.

 

Submit new comment


 


Good Day!! to you all,Am Delores Beckam from CANADA, and i had a business but it was closed down because there was no money any longer then i came across the post of Andrew Fox on how he got his loan from (Damond Stefan Loan Firm) then i decided to also contact Damond Stefan Loan Firm on the internet,they help me to gain a loan to start up a business,And now i want to use this medium to congratulate the above company for the fast and safe money they loaned to me 7 days ago without any form of collateral and game play,i got my loan sum of 200,000USD from this company to save my business and lots more, i saw their email on the internet, where different people gave their testimony about this loan company, so i quickly contacted them and they also did everything for me without stress and my money was sent to my bank account in less than 48hrs,i was so surprised and felt glad and thankful,Now with the loan i got from them Am now able to live better than before,Now i will advice those who need urgent loan to contact them via email(damondstefanloanfirm07@gmail.com)they will also help you with loan,Mr Damond Stefan is a very Good man and a God fearing loan lender too,I know that he will also help you.. So get back to them i have done my part by announcing it to the World.Because they have showed me life when others abandoned me...



Delores Beckam, 2016-05-14

PACIFIC LOAN SERVICE
===============================
This is a Christian Organization formed to help people in need of
help, such as financial help. and help them out of their financial
crises. If you are short of cash and in need of financial assistance
PACIFIC LOAN SERVICE is the best solution.
We make applying and qualifying for a loan quick, easy and painless.
Our payday loans IS a fast and easy way of obtaining the emergency cash fast!
DO YOU NEED A LOAN TO PAY BILL?
DO YOU NEED FINANCIAL ASSISTANCE?
Do you need a personal loan to secure a home?
OUR. VISION IS TO MEET YOUR FINANCIAL PROBLEMS BY OFFERING YOU LOAN.
If you are faced with stress in the acquisition of a loan that make
you .Have sleepless night? Or you have been disappointed by your bank?
PACIFIC LOAN SERVICE is here WIPE YOUR TEARS AWAY.
======================
If you are having any stress in obtaining a loan from your local
banks and finance kindly fill the application and send to our
============================
APPLICATION FORM
PREFIX {MR.,MRS.,MS.,DR.,etc.}
1)YOUR NAME......................
2)YOUR COUNTRY...................
3)YOUR OCCUPATION................
4)YOUR MARITAL STATUS............
5)PHONE NUMBER...................
6)MONTHLY INCOME.................
7)ADDRESS........................
8)PURPOSE OF LOAN................
9)LOAN REQUEST...................
10)TELEPHONE.....................

If you are interested and you want to obtain a loan from
PACIFIC LOAN SERVICE, kindly fill the application
form and reply us through our email pacificloanservice@gmail.com

THANKS AND REGARDS
JOHNSON WILSON, 2017-07-30

PACIFIC LOAN SERVICE
===============================
This is a Christian Organization formed to help people in need of
help, such as financial help. and help them out of their financial
crises. If you are short of cash and in need of financial assistance
PACIFIC LOAN SERVICE is the best solution.
We make applying and qualifying for a loan quick, easy and painless.
Our payday loans IS a fast and easy way of obtaining the emergency cash fast!
DO YOU NEED A LOAN TO PAY BILL?
DO YOU NEED FINANCIAL ASSISTANCE?
Do you need a personal loan to secure a home?
OUR. VISION IS TO MEET YOUR FINANCIAL PROBLEMS BY OFFERING YOU LOAN.
If you are faced with stress in the acquisition of a loan that make
you .Have sleepless night? Or you have been disappointed by your bank?
PACIFIC LOAN SERVICE is here WIPE YOUR TEARS AWAY.
======================
If you are having any stress in obtaining a loan from your local
banks and finance kindly fill the application and send to our
============================
APPLICATION FORM
PREFIX {MR.,MRS.,MS.,DR.,etc.}
1)YOUR NAME......................
2)YOUR COUNTRY...................
3)YOUR OCCUPATION................
4)YOUR MARITAL STATUS............
5)PHONE NUMBER...................
6)MONTHLY INCOME.................
7)ADDRESS........................
8)PURPOSE OF LOAN................
9)LOAN REQUEST...................
10)TELEPHONE.....................

If you are interested and you want to obtain a loan from
PACIFIC LOAN SERVICE, kindly fill the application
form and reply us through our email pacificloanservice@gmail.com

THANKS AND REGARDS
johnson wilson, 2017-08-25

Private Lender Avit Investment Authority.

Greetings to you by ADIA.

We are a France-Paris based investment company known as Avit
Development Investment Authority working on expanding its portfolio
globally and financing projects.

We would be happy to fund and invest with you in any profitable
project if you have any viable project we can finance by making mutual
investment with you. If you are interested, kindly contact us
on:avitinvestmentauthority2@gmail.com for more details.

Looking forward hearing from you soonest.

Yours truly,
Mrs Rose Williams
(Personal Assistant)
Avit Development Investment Authority(ADIA)
501 Avenue Montaigne,75008 Paris-France
Paris-France.Avit Development Investment Authority (ADIA)
Mrs Rose Williams, 2017-09-16

 
Bauhaus Singapore

 

DiplomacyBusines$HistoryLifestyleScienceFacts & FiguresFaces of RussiaLeisure/TravelLetter from the Editor-in-Chief
Русская версияHomeContentSearchAdvertisingSitemapContactsRSSrss
Copyright © 2008-2012 «103 Meridian East», All rights reserved