While focusing on cost-cutting, Swiss firm Julius Baer continues its commitment to digital assets by hiring an expert in the field.
Key Role of Michael Martin
Michael Martin, an experienced digital assets specialist, has joined Julius Baer as a client advisor in Zurich. In his new role, he will advise clients interested in investing in digital assets.
Experience in Crypto Sphere
Martin began his journey in the crypto sphere in 2014 at Kimura Capital, a provider of trade finance credit for commodities based in London. Later, he worked at Amina Bank, formerly known as Seba Bank, focusing on institutional crypto clients.
Context of Julius Baer's Restructuring
The hire comes as Julius Baer undergoes a restructuring program aimed at cutting costs by $120 million annually, involving workforce reductions, including in Hong Kong and Singapore. Reportedly, Julius Baer holds a minority stake in Amina Bank, with its CFO Evangelia Kostakis on the board.
Despite the challenges of cost-cutting measures, Julius Baer is actively developing its digital assets direction, as evidenced by key new appointments.
