Sarasin strengthens Asia presence with Hong Kong Branch – First Sarasin branch outside of Switzerland
18.03.2010Highlighting its international growth strategy, Sarasin today officially launched its Bank Sarasin & Cie AG, Hong Kong Branch ("BSC HK"). BSC HK is the first outside Switzerland for the Basel-headquartered Sarasin Group, and its third booking centre. Enid Yip, Chief Executive Officer Asia, is the Branch Manager.
BSC HK is a full service branch, allowing clients worldwide to book assets in Hong Kong. It offers clients (i) an alternative to Sarasin’s booking centres in Singapore and Germany and the booking centre at its headquarters in Switzerland, as well as (ii) a dedicated infrastructure to meet the increasingly sophisticated needs of high net worth individuals in Asia and beyond.
Joachim H. Straehle, Chief Executive Officer, Bank Sarasin & Co. Ltd, Switzerland Fidelis M. Goetz, Head of Private Banking, Bank Sarasin & Co. Ltd, Switzerland Enid Yip, Chief Executive Officer, Asia, and Branch Manager, Hong Kong |
Sarasin’s Hong Kong presence was founded in Hong Kong in 1995 by Rabobank as part of its international private banking business. In 2002, when Rabobank began its strategic alliance with Sarasin, Rabobank’s Asian private banking business was incorporated to Sarasin. The Hong Kong presence was then renamed Sarasin Rabo Investment Management Ltd, marking Sarasin’s entry to Asia.
Since 2002, Sarasin has expanded substantially in Asia, doubling the number of staff in Hong Kong by end-2009. This strategy has been rewarded with substantial growth. In 2009, assets under management increased 60% in Asia and the Middle East, while net new assets grew by 70%, the strongest performance across the Group worldwide.
