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Joint venture SCB Julius Baer gets OK to operate in Thailand
Joint venture between Siam Commercial Bank and Julius Baer will serve clients in the growing Thai wealth management market
The Asset 25 Apr 2019
Jiralawan Tangitvet
Jiralawan Tangitvet

SCB-Julius Baer Securities Co., Ltd. (SCB Julius Baer), a joint venture between Siam Commercial Bank (SCB) and Julius Baer, a Swiss wealth management group, announced April 25 that it has received the necessary licences to operate in Thailand for its formal operations.

The joint venture will deliver advice and solutions to the growing high net worth and ultra high net worth clientele in Thailand. It combines SCB’s reputation and domestic knowledge with Julius Baer’s 129 years of pure wealth management expertise and full offering of international wealth management capabilities for Thai clients in Asia. 

Over the last few months, concrete steps have been taken and key personnel have been hired with the leadership experience and expertise in Thailand to advise clients regarding their wealth management and wealth planning needs.

SCB Julius Baer will be led by Jiralawan Tangitvet, who is joining as chief executive officer. An investment specialist with over two decades of experience, both in the buy- and sell-side in the financial industry, Jiralawan has a track record of helping clients build investment strategies tailored to their financial goals as well as design business plans that accelerate growth. Prior to joining SCB Julius Baer, she was most recently managing director at Kasikorn Securities. 

“SCB Julius Baer symbolizes trustworthiness and credibility. We endeavour to serve the sophisticated Thailand-based clients with our global wealth management platform for substantial growth and positive returns. Both organisations’ shared values of client centricity underscore our commitment to clients and this unique partnership,” says Dr. Arak Sutivong, president, SCB. 

“In addition, over 50 relationship managers, investment specialists and support functions staff have been hired. They have been receiving comprehensive training and development, enabling them to serve clients’ long-term wealth management requirements. Talent development is one of the key priorities for building a sustainable business in Thailand,” Sutivong concludes.

Julius Baer’s international expertise and SCB’s on-the-ground experience form the foundation of these training and development programmes. 

“Our training programme is tailored to equip relationship managers with key skills to meet the evolving financial needs of clients in Thailand,” says Christian Cappelli, market head Emerging Asia, Julius Baer. “We will leverage Julius Baer’s strengths and expertise in global private banking and SCB’s deep local knowledge to prepare the team for Thailand’s rapidly growing wealth management market.” 

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