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The Dubai Department of Economy and Tourism and Swiss private bank Julius Baer have established an alliance focused on promoting Dubai as an international destination for wealth management, the two parties said in a statement on Monday. The partnership seeks to draw high-net-worth individuals, family offices and related businesses by combining local economic initiatives with specialised advisory capabilities. Officials expect the collaboration to support regulatory enhancements, talent development and innovation within the sector.
Julius Baer has operated in Dubai for more than two decades and received the first wealth management licence issued by the Dubai International Financial Centre upon its opening, according to the bank’s corporate history. The firm has expanded from eight employees in 2004 to around 200 today while broadening its range of services across the Middle East, Julius Baer reported on its website. Its offices in ICD Brookfield Place now house relationship managers, investment advisers and wealth planning specialists.
A Julius Baer assessment found strong alignment between the bank’s long-term relationship model and Dubai’s evolution as a financial centre driven by partnerships and technology programmes. The DIFC aims to rank among the world’s leading financial hubs, a goal the bank has supported through its sustained regional presence, Sheryl Cherian, chief operating officer of Julius Baer (Middle East) Ltd., noted in a company insight. Such cooperation has helped position Dubai as a hub serving clients across the wider Gulf area.
The bank secured a licence to open an advisory office in Abu Dhabi Global Market and began operations there in December 2025, Julius Baer announced at the Abu Dhabi Finance Week. It has been recognised as the Middle East’s best private bank for five consecutive years through 2025 by PWM and The Banker magazine. These steps illustrate the firm’s deepening commitment to the UAE market.
Dubai’s wealth management landscape has expanded alongside the arrival of additional international institutions and growing demand for tailored services including sustainable investing and philanthropy advisory, according to multiple Julius Baer reviews. The alliance with DET builds on this foundation by facilitating knowledge exchange and promotional activities aimed at reinforcing the emirate’s competitive standing. Julius Baer maintains similar partnerships across its global network of more than 50 locations in 25 countries.
