Angela Bow, Julius Baer’s head of Japan, emerging Asia & intermediaries, and one of the bank’s senior-most figures in the region has left the pure play, prompting sweeping changes.
An open secret in Asian private banking circles, Bow’s exit comes just under three years after the former Credit Suisse banker joined Julius Baer as head of emerging Asia.
Sources close to the matter say that Christian Cappelli, who oversees the Philippines market, will also take on Thailand and lead the joint venture Julius Baer signed with Siam Commercial Bank (SCB) earlier this year.
Julius Baer has since gone quiet on the progress of the joint venture although insiders point to hiring troubles and exits from SCB as signs that the partnership is still finding its feet. Bow’s exit will only add to the speculation.
Meanwhile, the sub-region Japan, emerging Asia & intermediaries unit has been disbanded and the offshore teams of ‘Japan Hong Kong’ and ‘Japan Singapore’ will be integrated into the sub-regional groupings of Greater China and Southeast Asia, respectively.
As per a prior announcement, intermediaries SG and HK will be transferred to the newly created intermediaries and global custody unit.