Julius Baer Group Ltd. (JBAXY.PK, JBARF.PK) said the company and Bank of China Ltd., or BOC, have entered into a strategic collaboration agreement whereby they will mutually cross-refer clients as well as undertake various joint marketing activities.
As per the agreement terms, BOC will refer clients with international private banking needs outside Chinese Mainland to Julius Baer. On the other hand, clients of Julius Baer requiring banking services will be referred to BOC. In addition, the two partners envisage cooperation in product distribution and financial market research as well as certain joint initiatives including investment conferences. Also, Bank of China (Suisse) SA will be integrated into Bank Julius Baer.
Boris Collardi, chief executive officer of Julius Baer, said, "The cooperation with Bank of China will lead Julius Baer to partner with one of the top players in Chinese Mainland and internationally. In addition, in future the partnership offers the potential for Julius Baer to gain further access to Chinese Mainland, one of the world's most important and fastest-growing wealth markets."
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