Julius Baer Enters China Onshore Market: Julius Baer establishes a strategic partnership with GROW investment group, as its first step into the onshore market in China. JuliusBaer onshoreChina partnership
Julius Baer said it will become a strategic investor and business partner of the GROW Investment Group, according to a statement sent on Wednesday.
GROW was established in June 2021 in Shanghai as a China-based asset management company. Julius Baer intends to make a low double-digit million US dollar equity investment, with both partners to establish a distribution network that gives GROW's clients access to selected Julius Baer's Qualified Domestic Limited Partnership products.
GROW also recently hired renowned ex-Bank of Communications economist Hong Hao whose social media account was reportedly suspended after he voiced economic concern's about Beijing's zero-Covid policy.The Swiss bank's international clients will gain access to local investment expertise and assets through the Qualified Foreign Institutional Investor program.
Julius Baer Greater China head David Shick said: «We are delighted to participate in the evolution of onshore wealth management in China through such an unprecedented partnership.»