“The world is a book, and those who do not travel only read one page,” claimed writer and theologian St. Augustine. For many young professionals, working overseas brings an opportunity to read more of the ‘world book’ by experiencing a different culture in and out of the workplace. Succeeding in a new environment enables them to develop the adaptability, flexibility, and interpersonal skills that will prove useful throughout their future career.
During their 18 months on Julius Baer’s highly sought-after Graduate Programme, participants are assigned three placements in their areas of specialism: two at the graduate’s home base and, in between, a four-month international assignment. “Business is becoming more and more global,” says Lea Bühler, Graduate Programme Manager. “It’s one thing to engage remotely with colleagues in other countries, but by sending our graduates off to experience working life abroad in another of the bank’s Regions and business areas, we also help them understand the advantages and challenges as well as the culture in that particular market.”
On-the-job learnings
An established and highly beneficial path for Julius Baer graduates seeking international experience is that between Europe and Asia. In Asia, Julius Baer not only has its second home market with Booking Centres in Singapore and Hong Kong, but also important locations of the bank’s Emerging Markets Region. Two of the current cohort, Adena and Noam, have recently returned from their overseas assignments. Adena, a graduate based on the trading floor at Julius Baer Singapore, supported the Fixed Income Institutional Sales team in Zurich, while Noam, a relationship management graduate based in Zurich, learned more about topics such as succession planning, retirement planning and philanthropy as a member of the Wealth Planning & Investment Advisory team in Dubai.
It was an eye-opening experience in terms of Julius Baer’s offering. “I come from the front, so it was fascinating to discover the importance of a support function like wealth planning in bringing the whole bank to the client,” says Noam. “Wealth planning topics such as wealth preservation and wealth structuring are a wonderful door-opener for client-facing team members such as me.
In Singapore, Adena specialises in structured products for private banking clients, whereas in Zurich she focused on fixed income for institutional clients. “It’s totally different,” she says, “but all part of preparing me for my final placement.” Adena’s international assignment was deliberately chosen to give her as broad a grounding as possible in her specialist area. When she returns to Singapore, she’ll be back on the trading floor, only this time on a cross-asset basis.
New ways of communicating
Given her upbringing in Singapore’s multicultural society, Adena is well used to working alongside people from a variety of different backgrounds, while Noam hails from an international family and split his childhood between Germany, Switzerland, and Israel. Despite their multicultural awareness, both believe that the international assignment was a springboard to further personal development.
Noam’s stint in Dubai was crucial in strengthening his resilience. “I enjoyed figuring out how to organise my life independently – not only in the office but with things like grocery shopping, finding my way around a new city, and building a social life.” He says it’s vital that graduates immerse themselves in local life. “Meeting one person can open the door to a hundred others. I signed up for a spinning class at the local gym, where I connected with an expat who introduced me to fellow expats. Before long, I was part of their community in Dubai, playing football and dining out together.”
As somebody with a multicultural background, the experience also underlined Noam’s conviction in the power of reaching out. “I believe in interconnectedness despite cultural differences. In Dubai, a melting pot of cultures and ethnicities, I relished the opportunity to sit together with people from different backgrounds from all around the globe and discuss our visions for the Region, a vision of prosperity and peace.”
Adena came away with new insights into intercultural communication between Singapore and Switzerland. “In Singapore, things are generally faster paced. When you pick up the phone, people say ‘can you get me a price for this?’, whereas in Switzerland they take the time to ask you how your day is going.”
Strong support structure
To ensure they get as much out of the experience as possible, the graduates are treated as full team members to guarantee that the time they spend overseas provides as stimulating a work environment as possible and empowers them to create their own impact. “You’re integrated fully into your new team’s operations and expected to work at your best every day,” says Noam, adding that the four months of the international assignment are not without challenges. “You’re outside your comfort zone in an unfamiliar environment, which means dealing with lots of changes.”
Both graduates highlight the support and approachability of the bank’s leaders as one of the reasons Julius Baer is an employer of choice for young professionals, with their experience on their international assignments bearing out the bank’s reputation for flat hierarchies. “My line manager contacted me before my assignment began to tell me how excited they were that I was joining. The team had everything set up for me in advance and involved me from the beginning,” says Adena. “Whenever I needed any assistance, on a business or a personal level, they were there for me. They also invited me for dinners and social events.”
Noam believes this supportive approach bears out Julius Baer’s claim that the company is “big enough to matter, small enough to care” and says his line manager went above and beyond. It was an approach that he felt encapsulated the Julius Baer’s mission to create value beyond wealth. “She not only welcomed me into her team and supported me professionally, but also invited me to her home to dine with her and her family."
Broader career horizons
With most graduates transitioning to a permanent position within Julius Baer at the end of their training, what advice would Noam and Adena give other graduates to make sure the international assignment benefits them moving forward at the company? “Work hard and learn from your new team members!” says Noam. “But remember that you don’t have to imitate those around you. We’re young professionals now and we’re surrounded by many more experienced colleagues, often with senior clients. We have to adapt our learnings to our own personality and culture, because we’ll be building relationships with a very different generation of clients.”
Adena emphasises the importance of curiosity. “Even if you feel the role you’ve been assigned to is intimidating, enter it with an open mind and ask plenty of questions. Be intrigued by what your colleagues are doing,” she says. “I quizzed people on the floor about what their role involved and how it connected with other roles in the bank. Through that, I could join the dots and make a mental mind map of how different roles support one another. You really get to understand the whole of the job.”
A lesson that travel not only broadens the mind, but also makes a difference to every graduate on the Julius Baer programme, and, ultimately, to the bank and its clients.