M and A

Julius Baer Agrees To Spin Off Zurich-Based Wealth House

Tom Burroughes, Group Editor, London, 4 January 2022


The management of the Zurich-based wealth management firm is detaching itself from Julius Baer through an MBO. Financial terms of the transaction were not disclosed.

Julius Baer has agreed to sell its entire stake in Zurich-based Wergen & Partner Wealth Management, which it bought in early 2017. 

The bank, which acted after reviewing its strategic participations, concluded that Wergen & Partner Wealth Management would develop most effectively under its own management.

The Wergen & Partner team of six people will continue to serve the clients of Wergen & Partner Wealth Management Ltd who are booked independently with various custodian banks. The transaction is due to be closed in the first three months of 2022, Julius Baer said in a statement yesterday. 

Among other M&A deals, in early October, Julius Baer said that its profits, which “rose significantly” in the first ten months of 2021 amid growth in client assets and improvements to cost efficiency, were aided by almost no credit losses. Assets under management rose to SFr484 billion ($520.2 billion) at the end of October 2021, a year-to-date increase of 12 per cent.

In September, Julius Baer folded parts of its local Swiss business under a new roof, and put its strategy for the Alpine state’s home market into action.

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