Julius Baer has improved its connection with online chess by becoming a founding partner of Play Magnus Group ©Getty Images

Swiss private bank Julius Baer has improved its partnership with Play Magnus Group (PMG) to become tournament title sponsors for the group's online chess circuits.

This also covers the Meltwater Champions Chess Tour as well as the Challengers Chess Tour.

"We are proud to be a founding partner of Play Magnus Group's innovation in the competitive online chess world," said Marco Parroni, head of global brand programmes, partnerships and sponsoring at Julius Baer.

"Julius Baer places special focus on fostering the educational benefits of chess, supporting in particular children who play chess through the Challengers Chess Tour.

"Chess has an undeniable heritage, and similar to Julius Baer, the digital transformation of the game is taking a new approach, adapting to trends that will shape our future. 

Magnus Carlsen is the founder of the Play Magnus Group ©Getty Images
Magnus Carlsen is the founder of the Play Magnus Group ©Getty Images

"How we invest today is how we live tomorrow. 

"This is why we at Julius Baer devote special attention to innovation, excellence and the next generation. 

"We are proud to continue to partner with the biggest online chess tour in the 2022 season."

As part of the partnership with PMG, Julius Baer becomes the title partner of a tournament in each of the tours and offers its clients and employees unique opportunities to learn, play and experience chess.

The Champions Chess Tour is the leading online chess tour in the world, beginning in 2020 under the name "Magnus Carlsen Chess Tour", named after Norway's world number one, Magnus Carlsen.