Siam Commercial Bank ties up with Julius Baer for wealth management venture

SCB’s high net worth clients can tap on on the Swiss private bank’s expertise and advising services.

Siam Commercial Bank is collaborating with Julius Baer to launch a wealth management platform that bridges onshore and offshore investment opportunities for high net worth clients.

According to a press release, the joint venture will leverage on the Swiss private banking group's wide expertise on wealth management and advising services to cater to SCB’s high net worth clients. It will also complement SCB's private banking capabilities, in which it has over USD23b of AUM, whilst opening access for Julius Baer to the fast-growing Thai wealth management market.

“The joint venture clearly demonstrates SCB's commitment under the new "Going Upside Down" strategy where a new service platform is developed and introduced. This will lift Thailand's USD 300b private banking industry to another level,” the press release added.