The brand of Swiss personal financial institution Julius Baer is seen at their headquarters in Zurich, Switzerland February 2, 2022. REUTERS/Arnd Wiegmann
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ZURICH, June 2 (Reuters) – Julius Baer (BAER.S) is promoting Geneva-based wealth supervisor Fransad Gestion to its administration group, the Swiss personal financial institution and asset supervisor said on Thursday, giving no monetary particulars.
“The transaction, which was executed on 1 June 2022, follows the choice of Julius Baer to cut back the complexity of its portfolio of firms and permits Fransad to strengthen its positioning as a serious Swiss impartial wealth supervisor below the possession of the prevailing administration group,” it mentioned.
Baer will proceed to work with Fransad, which manages round 1.5 billion Swiss francs ($1.56 billion) of property.
($1 = 0.9630 Swiss francs)
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Reporting by Michael Shields
Enhancing by Riham Alkousaa
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