The role is a new one for the bank, it said.

Julius Baer has appointed former Credit Suisse and Deutsche Bank senior figure Malcolm Tay as group head Southeast Asia – a newly-created role at the Swiss private bank.

Tay will be based in Singapore, and report to Yee Chin Lit, market head, Southeast Asia, the firm said in a statement yesterday.

With more than 30 years of wealth management experience, Taylor held positions at Credit Suisse, such as deputy market group head and market leader for Indonesia. Prior to this, he spent 18 years at Deutsche Bank Wealth Management, most notably as group head for SEA. He was also a client relationship manager at Merrill Lynch and co-head of Indonesia’s onshore private bank at Citi Private Bank for a decade.

“Julius Baer is dedicated to accelerating its expansion and enhancing its service offerings to ultra-high net worth individuals in Indonesia and SEA. Malcolm’s appointment is a key step in the bank’s strategy to consolidate leadership and foster growth throughout SEA,” the firm said.

Yee Chin Lit, market head Southeast Asia, said: “His appointment not only reinforces the depth and strength of our leadership bench but also underscores our dedication to Asia as an important second home market for us.”

The Zurich-listed bank recently welcomed Jason Gan and Mun Joo Ng as team heads for Southeast Asia.

Separately, Julius Baer issued 2023 its financial results in early February, showing the impact of heavy credit losses. Philipp Rickenbacher stepped down by mutual consent.