Home Finance Julius Baer sells Fransad business to management

Julius Baer sells Fransad business to management

by Enochadmin

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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