Julius Baer Signals Crypto Push With Strategic Hire
Julius Baer has brought on board renowned crypto specialist Michael Martin, according to a recent LinkedIn announcement. As finews.com has learned, he joins as a client advisor in the bank’s Swiss home market, reporting to Patrick Prinz, with a focus on digital assets.
Martin is considered one of the pioneers in the crypto space. He entered the field in 2014 when he joined UK-based Kimura Capital, spending over a decade focused on digital assets. Most recently, he served for about a year at Amina Bank – formerly Seba – where he oversaw institutional crypto clients.
Crypto Veteran
Julius Baer confirmed to finews.com that «Michael Martin has joined Julius Baer in Zurich as a client advisor, but is not involved in developing our offerings.» Rather, he will «primarily advise wealth management clients with needs in the area of digital assets.»
As finews.com has further learned from the crypto scene, Julius Baer also harbors ambitions to expand its offering for institutional clients in the area of digital assets.
The hire is especially notable given that the bank’s new CEO, Stefan Bollinger, launched a multi-year cost-cutting program in February, as reported by finews.com. The program also affects relationship managers. Bringing on a crypto expert in this environment hints at a strategic dimension to the decision.
Keeping a Low Profile
Julius Bär could be edging into the institutional playing field dominated by firms like Sygnum and Amina Bank, both of which focus on digital assets. Notably, Julius Bär holds a minority stake in Amina Bank. This institutional alignment is also reflected in the presence of Baer CFO Evangelia Kostakis on Amina Bank’s board of directors. Operationally, Julius Bär partners with Amina Bank as a sub-custodian for digital asset storage.
When contacted by finews.com, the bank played down the implications: «Our stake in AMINA Bank (formerly SEBA Bank) and our partnership and collaboration on sub-custody services remain unchanged.» The bank did not directly answer whether it plans to change its minority stake in Amina Bank.
