Swiss wealth management and investment bank Julius Baer to open Lisbon office

The Swiss private wealth management bank and advisory company Julius Baer has found an office in Lisbon from which it plans to begin operations in September as a part of a push in Southern Europe, taking advantage of the growing number of affluent foreigns moving to or living in Portugal.

The bank has found a building in Edifício Victoria on Avenida da Liberdade where it will occupy an 800m2 floor.

News had been circulating for around a year that the company planned to open an office in Lisbon according to Bloomberg.

To man the office, some 14 staff were transferred from its Madrid office while the team will be led by two former Credit Suisse managers, José Maria Cazal-Ribeiro and Gonçalo Maleitas.

Up until now the Julius Baer strategy had been to develop the Portuguese market from Spain, but the number of wealthy US, Brazilian and Middle Eastern citizens who have moved to Portugal has convinced it to have a presence in Portugal to add to the other 60 offices the advisory, investments and asset management company has around the world.

The real estate consultancy JLL assisted Julius Baer in finding and setting up in the Avenida da Liberdade office which was decisive for the wealth managers given that it is the city’s most sought after address.

The office will be divided into two distinct areas: one for the team and another to welcome clients.