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July 10, 2020, 2:38 a.m. EDT

Julius Baer to create private investment units

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By Mauro Orru

Julius Baer Group AG said Friday that it will create a unit for direct private investments such as private equity and private debt.

The Swiss private bank said it will launch the new direct private investments unit as part of its markets division as of Oct. 1, targeting its very wealthy and sophisticated private banking clients.

Giuseppe De Filippo will lead the new unit, who will join the company from UBS Group AG on Oct. 1, Julius Baer said.

Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94

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