The private bank Julius Baer is building a whole new team for a Latin American country. The client advisors all come from the major bank Credit Suisse, as has learned.

Andrés Marín will join Julius Baer on (today) Monday and take over the management of the Colombia market area. This can be found in an internal letter from the private bank that has received. As it is said, Marín is leading the advance into the country market from Zurich. A newly created team with customer advisors Eduardo Garcia, Carlos King and Paulina Widmer reports to him.

Second ex-CS team within a few months

All four bankers previously worked for Credit Suisse (CS). Marín worked on Central America for the big bank for the past eight years. Garcia was head of the CS office in Colombia and is now working for the “bears” from the capital, Bogotá. King and Widmer, also alumni of the second largest Swiss bank, also work from the Limmat.

The new Colombia team is already the second CS team within a few months that Julius Baer has brought in to expand the region. Last January, the private bank announced the arrival of Philipp Frischknecht, who headed the Private Banking International segment for Latin America at CS. Other experienced customer advisors changed with him: Ricardo Amorin, Jürgen Ritz, Horacio Ruiz Moreno and Alejandro Moreno Basols.

Like Marín, Frischknecht will report to Andrea Cuomo, the head of Spanish-speaking America at the institute.

The signs point to expansion

With the new fishing for competitor CS, the Latin America boss Beatriz Sanchez is once again sending out a signal that Julius Baer’s signs are pointing to expansion in the region. This after the turnaround of the market unit after money laundering affairs and various disposals took three years.