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Julius Bär makes new hires in Asia

Julius BärGruppe AG has added 200 relationship managers in 2016, with half ofthe new hires in Asia, Financial Timesreported July 25, citing the group's CEO, Boris Collardi.

The Swiss banking group currently has 1,300 relationshipmanagers after recruiting 200 new relationship managers in 2016, Collardi said.Of the group's new hires, as many as half are in its Asian operations as thecompany looks to further expand its presence in Asian wealth markets.

The company's new hires in 2016 marks its biggest absoluteincrease in staff since at least 2008. Collardi said the hires were a one-timeopportunity to gain market share as its competitors are not hiring at the samepace. He added that it also reflected a focus on organic growth while the groupwaits for an M&A opportunity.

The CEO noted that the banking group is still seekingfurther acquisitions, either as part of consolidation in Switzerland oroverseas.