Julius Baer and Macquarie agree Asia tie-up

Julius Baer has continued its Asian expansion by signing a deal with Australia’s Macquarie group that will see the Swiss private bank take over Macquarie’s $1 billion Asian private wealth arm. The Zurich-based firm will refer Asia-based clients seeking investment banking services to Macquarie, while the latter will refer customers who want private banking services to Julius Baer. This is a non-exclusive arrangement covering North and Southeast Asia that does not preclude either …