Introduction

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The combination of trust, experience, neutrality and secrecy were the foundations of Switzerland’s reputation as a centre for private banking, and despite globalisation, regulation, and competition from all quarters, Swiss financial institutions have maintained their position of influence, with three Swiss firms in the top ten of global wealth managers.

To help explore this landscape, we welcome one of these top ten firms, and the CEO of its UK business, David Durlacher.

David discusses how wealthy clients have very different goals from earlier periods, their changing priorities, how Julius Baer manages the challenge of serving different international markets, and the contrasting styles of those clients.

He discusses the debate in families between selling versus retaining a family business, why a client might seek out Julius Baer as its chosen partner, and how they differentiate themselves within a crowded field.

He covers the lending component of their business, why they seek to be a “sparring partner” for their clients, and why the UK represents a compelling growth opportunity for their business.

Finally, in an unusual exchange, Davis discusses the role religion plays in framing his thinking about investing and the future.