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Julius Baer Shrinks Ownership Stake In Mexico Wealth Manager

The Swiss bank is cutting its ownership stake in the Mexico City-based firm, which has more than $4 billion of assets.
Beachwood, Ohio-based Stratos Wealth
Partners has bought a controlling stake in Mexican business
NSC Asesores
from Julius
Baer, the Swiss private bank.
The management of NSC, which has more than $4 billion in client
assets, will continue to own 30 per cent of the business,
according to a statement from the various parties this
week.
The investment by Stratos cuts Julius Baer’s stake in NSC to 19.9
per cent. Emigrant Partners, LLC is the capital partner of
Stratos and supported that firm in evaluating the NSC transaction
and financing the acquisition.
The financial terms of the deal were not disclosed.
Stratos Wealth Holdings is a US national platform catering to the
independent wealth space comprising registered investment
advisory firms and broker-dealers. It was founded in 2009 by Jeff
Concepcion and has approximately $22 billion in client
assets under management or advisement.
NSC was founded in 1989, serving HNW individuals, families,
multi-generation family offices, business owners, trusts,
estates, and charitable organizations in Mexico and
internationally.
Separately, Julius Baer has announced the start of a new program
– initially flagged on February 2 – to buy back up to
SFr400 million of its stock.