Shaj Babu on Wealth, Family Legacy and 50 Years of Julius Baer in Bahrain

Wealth management in the Gulf is changing fast. Families are setting up formal governance, capital is moving out of oil and into tech and renewables, and clients want more than a well-built portfolio. Leading a private bank through that takes market knowledge, of course. It also takes trust, and the patience to build it across generations.

That’s the ground Shaj Babu, CEO of Julius Baer Bahrain, covers in this edition of Business Leaders in the Middle East. The bank has now marked 50 years in the Kingdom. It began with the acquisition of Merrill Lynch’s international wealth management practice and an office on Government Road. Today, the team works from the Bahrain World Trade Centre, backed by a 135-year Swiss legacy and a core team that’s largely Bahraini.

In our conversation, Babu explains how the bank adapted its advice when regional tensions escalated earlier this year, and why more families are asking for constitutions and succession plans. He also covers Bahrain’s role as a gateway to Saudi Arabia, how clients are approached on alternatives and digital assets, and why the human relationship still matters as the industry goes digital. What comes through is a leadership style built on staying close to clients and backing local talent.

This year has brought heightened geopolitical and economic uncertainty to the region. How are you guiding clients to position themselves through it?

At Julius Baer, we have built our legacy around serving clients as trusted advisors by helping them navigate the complexities of wealth and succession planning while guiding them on how to protect their assets amid volatile markets. When regional geopolitical tensions escalated earlier this year, we rapidly adapted our advisory approach by launching a digital engagement strategy. We hosted a specialised webcast series for clients in the GCC to address pressing concerns as the conflict unfolded. The series featured Julius Baer experts and external specialists who delivered critical macroeconomic insights and analysed the impact on key asset classes such as energy and commodities.

The Middle East has become a global leader in professionalised wealth management, with more families setting up family offices and formal governance. How is Julius Baer evolving to serve that shift?

Family enterprises form the backbone of the Middle East, and many families in Bahrain and across the region are moving past traditional asset management and looking for more structured multigenerational governance to support the longevity of their family enterprises.

With a legacy deep-rooted in its family origins, Julius Baer is well equipped to cater to these shifting priorities by positioning itself as a trusted advisor for complex multi-generational enterprises, providing bespoke advisory on personal challenges such as succession planning, family governance, and philanthropy. Our history informs our advisory strategy, which understands the challenges families face when managing and preserving wealth across generations. We help clients introduce formal governance frameworks like family constitutions and manage cross-generational wealth transfers.

You’ve now marked 50 years in Bahrain. What does the next chapter look like, particularly as Saudi Arabia emerges as a regional financial hub?

Over the past 50 years, Julius Baer has deeply transformed its presence in Bahrain. What began with the acquisition of Merrill Lynch’s international wealth management practice and inheriting the local team and office on Government Road has evolved into a growing operation at our new home in the Bahrain World Trade Centre. This journey is a testament to our longevity in Bahrain and our commitment to staying close to our clients.

Our next chapter brings a renewed commitment and growth with the expansion of the team and the extension of our outreach to neighbouring markets like Saudi Arabia. While we serve clients in Saudi remotely rather than from a physical office in the Kingdom, Bahrain serves as an ideal gateway, allowing us to capture the wealth of opportunities the market has to offer through our strategic proximity. As Saudi Arabia rapidly emerges as the financial hub of the GCC, our relationship managers are well positioned to leverage opportunities in this promising market and support the rising demand from Saudi family enterprises for structured, institutionalised governance.

Driven by a core team of predominantly Bahraini talent, we are uniquely equipped to provide personalised advisory to family enterprise successors of both genders.

There’s a growing appetite for alternatives, private markets, and digital assets among Gulf investors. How do you help clients access these responsibly?

The rise in demand for alternative investments and digital assets in particular has been fuelled by national diversification strategies and modern regulatory frameworks developed across the region to attract global investors. Gulf states are moving capital away from oil and into tech, artificial intelligence, renewable energy, and digital infrastructure.

To capitalise on this new era and shift in client appetite, Julius Baer combines local insight with global expertise, careful due diligence, and tailored wealth planning to ensure these complex investments match each client’s specific goals and risk profile. We host dedicated events to keep clients abreast of how asset classes perform under different market conditions, providing clients with expert advice on managing a diversified portfolio and investigating the risks associated with market volatility. Our advisors work closely with clients to match their investment appetite with their long-term wealth goals.

Wealth management is still a deeply personal business. How are you investing in your advisors and talent to keep that human edge as the industry digitises?

More than wealth, we are in the business of managing relationships and nurturing them through multi-generational stewardship, advisory, and guidance. Our reputation has been built on our 135-year Swiss legacy, but more importantly, what keeps us relevant and strategic in this market, among others, is our local know-how.

We are proud that our core team is powered primarily by Bahraini talent of both genders, perfectly positioning us to advise next-gen family enterprise leaders. Understanding our clients’ aspirations and how they envision their long-term legacy helps us craft bespoke strategies that help them realise their wealth ambitions. Extending our support to the next generation through targeted financial literacy programs and internships allows us to build lasting bonds that prepare our clients for seamless succession.

Business Leaders in the Middle East 2026

Business Leaders in the Middle East by Gulf Insider brings together sharp insights from the leaders shaping the region. These conversations are windows into how leadership is evolving in a world driven by rapid digital transformation. As technology reshapes nearly every industry, these conversations explore how today’s leaders are navigating change with vision and purpose. Read more interviews here