The Swiss bank has been present in Asia since 2006 and likes to describe the region as its second home market.

Julius Baer has opened a new office in Two Taikoo Place, Hong Kong, which the Swiss private bank speaks to its determination to tap rapid wealth market growth in Greater China.

The office spans 100,000 square feet, involving four levels of the building. Julius Baer employs more than 500 people serving clients across Greater China.

Present in Asia-Pacific since 2006, the Zurich-listed bank has described the region as its second home market, and like other Western lenders has moved into Asia to take advantage of a rising affluent middle class.

According to Boston Consulting Group in 2022, Hong Kong could overtake Switzerland as the world’s most important cross-border hub by 2026. Hong Kong has reopened after being subject to the strict controls imposed to contain the pandemic, and it also faces competition from rival centres such as Singapore and Dubai.

“In the last two decades, Asia has emerged as a pivotal region for the bank, and as our second home market, contributes to 25 per cent of our global business. We remain confident in Asia’s robust potential for economic growth and our commitment lies in fostering development and investments in this thriving region,” Jimmy Lee, head of Asia-Pacific at Julius Baer, said in a statement.