#Julius baer wealth advisors pro
40% to CHF 251 billion on a pro forma basis and its total client assets to CHF 341 billion. Therefore, assuming CHF 72 billion AuM transferred, Julius Baer’s existing AuM as of 30 June 2012 would increase by approx. The agreed transaction price is 1.2% on AuM transferred (payable as and when AuM transfer to Julius Baer). Clients and employees will benefit from new opportunities as a result of strengthened local franchises.
Julius Baer’s client-centric approach and open-product platform will be enhanced through the complementary service models and cultures of the two businesses that will promote valuable cross-fertilisation of skills and experience.
Furthermore, close to half of the financial advisors at IWM have been servicing clients at their company for more than ten years.Īs part of the integration, the acquired legal entities will operate under the brand Julius Baer. The compatibility with Julius Baer’s business is evidenced, among others, by the similar asset allocation composition or similar average AuM per client. The strong IWM franchise has been present in international key markets for decades. We very much look forward to working with our new colleagues who will undoubtedly enrich our corporate culture.” In addition, it will reinforce Julius Baer’s attractiveness as an employer of choice in the private banking industry. The compatibility and complementarity of the two business models, once integrated, will create a new reference in private banking and a powerful offering for all clients of the combined businesses. Collardi, CEO of the Julius Baer Group, added: “This acquisition brings us a major step forward in our growth strategy and will considerably strengthen Julius Baer’s leading position in global private banking by adding a new dimension not only to growth markets but also to Europe. Due to its strong presence in strategic growth markets and its business characteristics, Merrill Lynch’s International Wealth Management business is an excellent strategic, cultural and geographic fit for Julius Baer.”īoris F.J. Sauter, Chairman of the Julius Baer Group, said: “This transaction represents a rare opportunity to acquire an international pure-play wealth management business of significant size and will add substantial scale to our business in Europe and in key growth markets in Asia, Latin America and the Middle East. At CHF 72 billion transferred, the proportion of AuM derived from growth markets is expected to increase from over a third today to almost half, on a pro forma basis.Įxcellent strategic, cultural and geographic fit – strengthening of leading positionĭaniel J.
Post integration, Julius Baer will be present in more than 25 countries and 50 locations globally. While the bulk of IWM’s business is in locations where Julius Baer is already present, such as Geneva, London, Hong Kong, Singapore, Dubai and Montevideo, the acquisition would add new locations in Bahrain, the Netherlands, India, Ireland, Lebanon, Luxembourg, Panama and Spain to Julius Baer’s existing network. 40% to CHF 251 billion and its total client assets to CHF 341 billion at the end of the two-year integration period, both on a pro forma basis. The transaction is a combination of legal entity acquisitions and business transfers and, by the end of the expected two-year integration period, is currently estimated to result in additional AuM of between CHF 57 billion and CHF 72 billion, of which approximately two thirds from growth markets.Īt CHF 72 billion AuM transferred, this would increase Julius Baer’s existing AuM by approx. Approximately two thirds of IWM AuM are from clients domiciled in growth markets in Asia (more than half), Latin America and the Middle East. Julius Baer, the leading Swiss private banking group, has agreed, subject to the regulatory and shareholder approvals, to acquire Merrill Lynch’s International Wealth Management business (IWM) based outside the US and Japan from Bank of America (BofA) with USD 84 (CHF 81) billion of assets under management (AuM) as of 30 June 2012 and over 2,000 employees, including more than 500 financial advisers.
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