FUNDRAISING NEWS | January 07, 2025
Swiss wealth firm Julius Baer has announced that it is selling its domestic Brazilian wealth management business to São Paulo-based BTG Pactual for BRL 615M (~$101.3M).
Julius Baer Brazil operates offices in São Paulo, Belo Horizonte, and Rio de Janeiro, overseeing BRL 61B (~$10B) in AUM as of November 30. The sale is expected to increase Julius Baer’s CET1 capital ratio by approximately 30 basis points upon closing in the first quarter pending regulatory approvals.
The Swiss firm said its Brazil International business will not be impacted by the deal, and that it will continue to service Brazilian clients based outside the country. Julius Baer has other offices across the Americas and Iberian region, including in Mexico, Chile, Uruguay, Colombia, and Spain.
