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Julius Baer has wrapped up the deal in which it bought 83 per cent of Zurich-based real estate service provider KMP, aka Kuoni Mueller & Partner. The remaining shares are held by the KMP partners, as minority shareholders.

As a result of the transaction, 40 KMP employees became employees of Julius Baer. Dominik Weber, former majority owner and chief executive of KMP, was appointed head of real estate advisory of Julius Baer, while also acting as chairman of KMP. KMP will continue to operate in its established segments and markets under its own brand name.

The new subsidiary KMP is an integral part of Julius Baer’s real estate offering in Switzerland. It acts as a strategic partner in the areas of property portfolio and asset management, brokerage of private and commercial investment real estate, brokerage of private residential real estate, property and construction management, and real estate valuations.