Julius Baer, the Swiss wealth management group, has received final approval from the Financial Services Regulatory Authority (FSRA) to open a new advisory office in the ADGM.

The expansion into the UAE was announced on 24 November.

The new entity, Julius Baer (Abu Dhabi), will commence operations in December 2025, serving ultra-high-net-worth individuals, family offices, and entrepreneurs seeking tailored wealth management solutions, according to Finews.

“I am happy to share that Bank Julius Baer has received the final approval,”

said CEO Stefan Bollinger during the Abu Dhabi Finance Week. Bollinger highlighted the generational shift among wealthy clients:

“The younger generation is certainly more tech-savvy; they may focus more on lifestyle…but we at Julius Baer, as private bankers, always stress we don’t regard a generational change as a transaction but the continuation of a journey.”

He also noted the role of technology:

“Disruptive technologies are rather an opportunity and not a threat. There is a big focus on AI use cases, which is a massive chance because, think of it, in five years, who would still do coding, because AI can do it for you? Who would design legal contracts? These are massive opportunities, as they mean we can provide a better experience for our clients because a lot of administrative work can be automatically generated.”

The Abu Dhabi entity will be led by Amir Iskander, who joins Julius Baer as CEO.

Iskander brings extensive experience advising wealthy clients in the region, having held senior roles at Abu Dhabi Commercial Bank, Union National Bank, and Citigroup.

He will report to Régis Burger, Head of Middle East & Africa.

Featured image credit: Edited by Fintech News Middle East, based on image by EyeEm via Freepik