Julius Baer appoints Peter Schaer as new CEO Dubai
The existing team in Dubai will be further strengthened through the appointment of four new experienced relationship managers, who will join Julius Baer (Middle East) Ltd. in January 2010.
Bank Julius Baer today announced that it has appointed Peter Schaer as Chief Executive Officer of Julius Baer (Middle East) Ltd. in Dubai, effective 1 April 2010. Prior to joining Julius Baer, Peter Schaer was Head of Wealth Management at UBS in Dubai for six years. During this time, he played a pivotal role in expanding UBS’s private banking activities in the region. Peter Schaer brings with him over 24 years of experience in the banking sector and an in-depth knowledge of business in the Middle East.
Peter Schaer will succeed Rolf Schaerer, who is stepping down from this position in order to focus fully on his responsibilities as Head Indian Subcontinent, based in Dubai.
Thomas R. Meier, CEO Julius Baer, Middle East, Asia and Eastern Europe, said:
“I would like to thank Rolf Schaerer for his significant contribution to the successful establishment of our business in Dubai. His new dedicated role focusing on the Indian Subcontinent reflects our commitment to this key region in Asia – our second home market.”
Peter Schaer will further develop Julius Baer’s operations in the Gulf region. The existing team in Dubai will be further strengthened through the appointment of four new experienced relationship managers – Raymond Cheaib, Faisal Siraj, Ali Sandila and Ahmed Tahir Butt – who will join Julius Baer (Middle East) Ltd. in January 2010.
Thomas R. Meier commented, “Peter Schaer and his team have considerable expertise in private banking, outstanding track records and strong ties to the Middle East. I am convinced that they will be able to successfully drive the further development of our activities in this key market.”
Julius Baer was the first international private bank to be granted a license to operate in the Dubai International Financial Centre in 2004. It is now continuing to invest in its infrastructure and the expansion of its team of finance professionals in Dubai to ensure it is ideally positioned to meet the individual needs of clients in the Middle East. Julius Baer also has offices in Abu Dhabi, Cairo and Istanbul.