Julius Baer has created a private investments unit and is planning to launch a dedicated private equity and private debt offering for its ultra high net worth clients.
It has hired Giuseppe De Filippo to spearhead the effort, with De Filippo joining alongside several experts on 1 October 2020. The private investments segment will be part of the markets division.
De Filippo was most recently at UBS, where he held various roles and had led the direct investments group and the corporate finance group globally.
During his career he worked as an associate principal with McKinsey & Company in Zurich, Singapore, and Shanghai from 1999 to 2006.
He brings along several external and internal professionals who will contribute their expertise in structuring, sourcing, and distributing transactions.
The creation of the private investment division is part of the firm’s strategic announcement to invest more in its range of solutions and expertise and to enhance its relevance for clients and capture new market opportunities.
According to the bank, direct investments are one of the fastest-growing areas for UHNW clients and family offices that look for diversification and want to tap emerging megatrends.
Dieter Enkelmann, CFO at Julius Baer, said: ‘I am delighted to announce the hiring of Giuseppe and a team of proven experts to form this newly created unit ‘Direct Private Investments’.
‘With their background, their experience, and international network, Giuseppe and the new team are perfectly equipped to successfully roll out these important services, expanding the capabilities of our markets division and, thus, our relevance for UHNW clients.’