Stability and sincerity mark Julius Baer’s sterling service to external asset managers (EAMs), which is why this particular industry has voted the pure play as their private bank of choice for the fourth year running.
As with previous years, EAMs from Hong Kong and Singapore picked Julius Baer as their number one private banking partner based on the dedicated team’s quality of service. This year, many added that stability has played a big part as well.
“In an industry that is increasingly seeing rounds and rounds of ‘musical chairs’, it is refreshing that Julius Baer’s EAM team has largely stayed put, which enables them to further cement their ties with clients,” the founder of a Hong Kong-based EAM told Asian Private Banker.
“While it is true that EAMs reach out to different private banks for different needs, I think of Julius Baer first when a need arises, even though it might not be their strongest suite. This is no more than a reflection of their service standards.”
The fact that the pure play is one of the few private banks to have its EAM business represented on its global board is another telling feather in its cap.
In an industry that manages more than US$30 billion in assets – and pegged to double in the next five years – EAMs are gaining critical mass in Asia. Hong Kong’s EAM space sits on US$15.5 billion in assets under management and touted to grow to US$32 billion in 2020, according to the latest Julius Baer report on the subject. The city’s first EAM association was also set up in October 2015.
Singapore meanwhile, is home to an EAM market that manages some US$16.9 billion in assets, which is expected to grow to US$34 billion in 2020. Its independent association launched in March 2011. Incidentally, and unsurprisingly, the report is regarded as the EAM fraternity’s benchmark review, and studied by clients, competitors and common journalists alike.
As the EAM market in Asia continues to evolve in size and sophistication, Julius Baer has proven itself more than capable of staying on top. It is without a doubt the industry’s choice for the Best Private Bank – External Asset Managers’ Choice award in 2015.