Sign up for free newsletter


Globe and money

Julius Baer acquires Merrill Lynch’s international wealth management business

Julius Baer has completed the principal closing of its acquisition of Merrill Lynch’s International Wealth Management (IWM) business outside the US from Bank of America, which was announced in August 2012.

At the same time and as a first step of the integration, Julius Baer acquired the Geneva-based Merrill Lynch Bank (Suisse) SA with around CHF11bn assets under management.

The principal closing marks the start of the approx. two-year business transfer and integration phase. During this period IWM entities, financial advisers, their client relationships and related assets under management will be transferred to Julius Baer in a staggered process in the respective more than 20 locations, subject to the fulfilment of local preconditions.

The first step in the acquisition and business transfer process is the acquisition of Merrill Lynch Bank (Suisse) SA and its branches in Zurich and Dubai by Julius Baer Group at the principal closing on 1 February 2013. It encompasses the entire Swiss bank with a strong international client base and assets under management of around CHF11bn. Merrill Lynch Bank (Suisse) S.A. is expected to be merged into Bank Julius Baer & Co Ltd in summer 2013.

“The principal closing marks the beginning of a new era for our group: together with our new colleagues we endeavour to build the new reference in private banking, setting new standards in our industry for the benefit of our sophisticated clientele. The IWM business is an excellent strategic fit, strengthening Julius Baer’s presence in key growth markets and significantly enlarging our asset base,” says Boris FJ Collardi, chief executive of Julius Baer.

3 days 12 hours from now - Abuja
1 week 3 days from now - London
2 weeks 1 day from now - London
2 weeks 2 days from now - San Francisco
Mon, 15/05/2017   - London
Mon, 15/05/2017   - London
Mon, 15/05/2017   - London
IKONIC Fund Services Ltd.
Tue, 29/11/2016 - 12:28
Backstop Solutions Group
Tue, 08/11/2016 - 18:44
The Gemini Companies
Mon, 17/10/2016 - 12:51
other gfm publications