Formed in 2018, the joint venture between the Thai and Swiss banks is an example of the kind of partnerships that have tapped into the rising wealth of Southeast Asia.      

Julius Baer’s Thailand joint venture business has appointed a new chief executive, Peerapoing Jirasevijinda. He has succeeded Lalitphat Toranavikrai, who is staying on the JV’s board of directors.

Toranavikrai has been involved with SCB-Julius Baer Securities Co, as the JV is called, since 2008. She has held senior positions in wealth management. Her career prior to SCB includes time spent at RBS Coutts in Singapore, and as deputy head of corporate and investment banking at BNP Paribas Thailand.

Jirasevijinda brings more than 27 years of financial industry experience to the CEO role. 

SCB Julius Baer is a JV between Zurich-listed Julius Baer and Siam Commercial Bank. The venture is an example of the ways that Swiss and other European banks have sought to tap into Southeast Asia’s expanding and affluent middle class.

The idea of Asian tie-ups with local players has been in evidence for some time. In August 2018 Lombard Odier (Singapore) Ltd, part of the Geneva-based Swiss bank, worked with Mizuho Securities (Singapore) to offer investment solutions and wealth management expertise in Asia. Lombard Odier announced strategic partnerships with UnionBank in the Philippines in August 2016, Kasikornbank in Thailand in December 2014 and Bank Mandiri in Indonesia in April 2019. Julius Baer and Nomura announced a strategic partnership about five years ago with the Japanese financial services group taking a 40 per cent shareholding in Julius Baer Wealth Management Ltd. DBS Bank partnered with its Thailand securities business to boost wealth assets under management in the country. The partnership brought together DBS Bank and DBS Vickers Securities (Thailand).