Julius Baer: sale of wealth management business in Brazil
With offices in São Paulo, Belo Horizonte and Rio de Janeiro, and assets under management amounting to 61 billion Brazilian reais at the end of November, Julius Baer Brazil is a leading independent asset manager in the country.
The transaction is expected to be accretive to Julius Baer's CET1 capital ratio by around 30 basis points at closing, based on a total cash consideration of 615 million Brazilian reais (equivalent to 91 million Swiss francs).
Subject to the usual regulatory approvals, completion is expected in the first quarter of 2025. Julius Baer will continue to serve its Brazilian clients from other locations, and its international activities in Brazil will not be affected.
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