MUMBAI | 15 August 2026: Swiss private banking group Julius Baer is expanding its India Global Capability Centre (GCC) operations with a new 74,037 sq ft office lease at Waterstones Business Park in Andheri East, Mumbai. Its Indian entity, Julius Baer Global Enterprise Services (India), has signed a 60-month lease for the seventh floor of the property, strengthening the bank’s operational and back-office footprint in India.

The lease commenced on 1 May 2026, with monthly rent of approximately ₹1.55 crore and an annual escalation of 5%. The total rental outgo over the initial five-year term is estimated at ₹102.6 crore, while the company has paid a security deposit of approximately ₹12.38 crore.

KEY HIGHLIGHTS

  • GCC Expansion: The new facility will house Julius Baer’s India GCC and back-office operations, supporting the continued expansion of its global enterprise services footprint.
  • 74,037-Sq-Ft Footprint: The bank has leased the seventh floor of Waterstones Business Park in Andheri East, adding a substantial office footprint to its Mumbai operations.
  • ₹102.6-Crore Lease Commitment: The five-year agreement represents an estimated ₹102.6 crore in rental outgo, excluding the impact of the contractual annual escalation beyond the initial calculation.
  • BFSI Capability Growth: The expansion comes as financial services companies continue to increase their use of India for global capability, commercial processing and transaction-support activities.

Headquartered in Zurich, Switzerland, Julius Baer Group Ltd. operates as one of most established pure-play private banks. With origins dating back to 1890, the firm has evolved from a family-run exchange office into a global wealth management titan, publicly listed on the SIX Swiss Exchange. Managing a formidable asset base with Assets Under Management (AUM) reaching CHF 547 billion by mid-2026 Julius Baer maintains a vast global footprint spanning 60 locations across approximately 25 countries.

By scaling its Global Enterprise Services division in India, Julius Baer is deliberately bypassing traditional offshore processing. The expanded Mumbai facility functions as a centralized nerve center for core enterprise operations, ensuring the bank can maintain agile, hyper-secure, and frictionless financial delivery, risk management, and compliance for its elite clientele across its international markets.

SCALING GLOBAL ENTERPRISE SERVICES FROM MUMBAI

The expansion echoes the continuing role of Mumbai as a major location for financial-services capability operations. Julius Baer has an established presence in India and describes the country as one of its core growth markets, with Mumbai serving as one of its key locations in the region.

The new facility will support commercial processing and transaction support as Julius Baer expands its GCC operations in India. The move also reflects a broader trend among financial-services organisations towards larger, consolidated Grade-A office footprints to support growing capability operations. The choice of Andheri East also provides access to one of Mumbai’s established commercial corridors, with connectivity to the airport and major transport networks.

BFSI AND THE NEXT PHASE OF GCC GROWTH

Julius Baer’s expansion comes amid continued growth in BFSI-led GCC activity across India. According to Colliers data cited in the lease report, GCCs accounted for 46% of Grade-A office uptake across India’s top seven cities in H1 2026, leasing 16.6 million sq ft. BFSI accounted for 23% of GCC leasing during the period, while BFSI leasing volumes had nearly tripled between 2021 and 2025.

Mumbai recorded approximately 1.2 million sq ft of GCC leasing in H1 2026, representing 7% of GCC leasing across the top seven cities. For the BFSI sector, this points to a continued shift from traditional transaction-processing models towards larger and more integrated global capability operations spanning technology, operations, analytics, risk and other enterprise functions.

Industry Insights

Evaluating Julius Baer’s strategic deployment yields critical macroeconomic intelligence regarding the evolution of India’s capability ecosystem:

  1. Mumbai remains a strategic BFSI hub: While emerging cities are attracting increasing GCC activity, Mumbai continues to command a strong position for financial-services organisations because of its deep banking, financial and professional-services ecosystem.
  2. BFSI is becoming an important GCC growth engine: The sector’s increasing share of GCC leasing reflects the growing importance of India-based capability operations to global financial institutions.
  3. Capability growth is translating into physical scale: Large office commitments such as Julius Baer’s indicate that GCC expansion is increasingly accompanied by substantial, long-term investments in dedicated operating capacity rather than small satellite offices.

FUTURE OUTLOOK

Julius Baer’s Mumbai expansion reinforces the growing role of India in the global operating models of financial institutions. With the new facility supporting its GCC and back-office operations, the bank is adding capacity in one of the country’s most established financial-services ecosystems. The modern private banking value chain is no longer split between high-touch European front offices and low-cost offshore processing. Today’s premier wealth managers are systematically building mission-critical agility, risk resilience, and technological edge out of India’s established financial hubs.

From an industry standpoint, this investment highlights that BFSI organisations are continuing to deepen their India presence, with established financial hubs such as Mumbai remaining critical centres for scaling global enterprise capabilities.

Curated by SSF Global

Tracking the shifts shaping GCCs, enterprise ecosystems, and the future of global business.

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SSF Global is a Global Community for Enterprise Function Leaders and serves as a research & advisory platform focused on Global Business Services (GBS), Global Capability Centres (GCCs), and the evolution of enterprise innovation in India and beyond. We track, publish, and partner in narratives that shape how capability centres transform into hubs of trust, intelligence, and sustainable growth. We also evaluate, assess and benchmark the GCCs for their performance, maturity and other parameters using our proprietary tools built from the knowledge gained from direct interaction with our members (GCCs & GBS).