In 2025, Swiss private bank Julius Baer announced its expansion into Portugal, opening a new office in Lisbon. This move is part of the bank’s broader strategy to strengthen its presence in Southern Europe and serve the growing population of high-net-worth individuals (HNWIs) relocating to or investing in the country.
New Office in Lisbon
The new Julius Baer office is located on the prestigious Avenida da Liberdade, in the heart of Lisbon. The bank transferred a team of 14 experienced professionals from Madrid to establish the new branch.
Leading the office are José Maria do Casal-Ribeiro and Gonçalo Malheiros Correia, both with extensive experience in private banking. Their mission is to build strong local relationships and tailor the bank’s services to the Portuguese market.
Why Portugal?
Portugal has become increasingly attractive for private investors and expats due to:
- political and economic stability,
- mild climate and high quality of life,
- favorable tax regimes, including for non-residents,
- growing interest from clients in the U.S., U.K., and Brazil.
Even with recent changes to residency programs like the Golden Visa, Portugal continues to be seen as a safe European haven for wealth.
Julius Baer’s Growth Strategy
Julius Baer aims to:
- expand its team in Portugal,
- establish a full banking license by late 2025,
- increase assets under management in the country.
The HNWI segment in Portugal is estimated to exceed €25 billion, and Julius Baer is positioning itself to capture a significant share of this market.
Compliance and Regulation
Julius Baer is working closely with Portuguese financial regulators, including the CMVM and the Bank of Portugal, to ensure full compliance with EU and national financial laws.
The bank will offer localized investment solutions that consider both tax and legal nuances for resident and non-resident clients.
Focus on ESG and Sustainability
As part of its global strategy, Julius Baer is prioritizing sustainable investment offerings. Over 40% of the investment solutions offered in Portugal are expected to meet ESG standards.
The bank also plans to support local community initiatives, including financial literacy programs and charitable projects across the country.
Conclusion
Julius Baer’s expansion into Portugal highlights the country’s growing role as a new European financial hub. With a strong team, a focused growth strategy, and commitment to ESG principles, the bank is well-positioned to establish a long-term presence and serve the evolving needs of wealthy clients in Southern Europe.
