SCB Julius Baer, the wealth management joint venture between Thailand’s Siam Commercial Bank and Swiss private bank Julius Baer, makes senior hire.

SCB Julius Baer has just appointed Adrian Mazenauer (pictured) as the new CEO, effective immediately.

Mazenauer currently serves as deputy CEO and head of wealth management Thailand at SCB Julius Baer. Still based in Thailand, he is replacing Peerapong Jirasevijinda who stepped down last October for personal reasons, the firm told this news service.

With over 25 years of experience in the global investment and finance industry, Mazenauer has helped shape SCB Julius Baer’s wealth management services since joining the firm in 2019 as managing director and head of wealth management. His approach and expertise with regards to investment solutions has been essential to providing tailored solutions and meeting the needs of high net worth clients in Thailand, the firm said in a statement.

As CEO, he will define the direction, as well as oversee the client servicing and operations teams of SCB Julius Baer, solidifying the bank’s reputation as a wealth management provider in Thailand, the firm continued.

The move follows Julius Baer saying it will be cutting 400 jobs and shrinking the executive board to five from 15, after reporting a worse-than-expected 2024 pre-tax profit.

“Adrian will drive growth for our high net worth wealth management business and lead the organisation towards its goal of becoming a leading wealth management firm in Thailand,” Kris Chantanotoke, chief executive officer of Siam Commercial Bank and chairman of the board of directors at SCB Julius Baer, said.

“Adrian’s appointment as CEO reflects our unwavering commitment to serving high net worth clients in Thailand,” Jimmy Lee, head region Asia at Julius Baer, and member of the board of directors at SCB Julius Baer, added. “His deep understanding of our business, built over years of leadership, and his pivotal role in shaping our market presence make him uniquely suited for this role. Adrian’s client-focused approach will strengthen our position as the region’s leading wealth manager and drive our next phase of growth.” 

Headquartered in Zurich, Julius Baer has assets under management of SFr497 billion ($546 billion), offices in Bangkok, Dubai, Dublin, Frankfurt, Geneva, Hong Kong, London, Luxembourg, Madrid, Mexico City, Milan, Monaco, Mumbai, Santiago de Chile, Shanghai, Singapore, Tel Aviv, and Tokyo.