Of Special Interest
6th December 2011
Julius Baer opening in Tel Aviv
Julius Bär announced it is to open a representative office in Tel Aviv early next year. Ran Heistein is to operate the office.
The office opening is said to have followed an extensive market investigation. The bank currently has a unit in Switzerland dedicated to Israeli customers and headed by Dan Sagui.
The opening follows on last week's opening of a representative office in Shanghai and reflects the needs of Swiss Private banks to increase their geographical spread. The Swiss Private banks profitability is affected by the European and US tax deals ending many of the tax avoidance / evasion schemes, the requirement to hold higher higher capital and the higher regulatory costs.