Swiss private bank Julius Baer said it is opening new offices in Manchester, Leeds and Glasgow and it has hired a number of experienced relationship managers in those cities to bring its “pure wealth management approach” to a wider base of UK clients.

An additional small team will be established in Belfast.

“The newly hired relationship managers all have proven track records and will be joining Julius Baer over the coming months, operating out of premises that have been identified and which are expected to open later this year,” said Julius Baer.

“Two thirds of the UK’s wealth is held by individuals outside London and the south east.

“Business owners, entrepreneurs and other wealthy individuals based in and around Manchester, Leeds, Glasgow and Belfast will now have access to the Julius Baer offering and the proven experience of a local team of relationship managers.”

Yves Robert-Charrue, Head Europe and Member of the Executive Board at Bank Julius Baer & Co. Ltd., said: “This is another step in Julius Baer Group’s growth strategy.

“Experienced relationship managers are attracted by Julius Baer’s pure wealth management model.

“The UK, with its deep pool of talent in financial services, is a strategic location for investment and growth.

“We are committed to building a strong business for the long term and serving clients across the whole country.”

David Durlacher, Chief Executive of Julius Baer International Limited, added: “We are excited to make such an important addition to Julius Baer’s already strong UK business.

“I am delighted we have attracted a number of very high caliber individuals and especially that we will be able to form strong and lasting client relationships across the country.”