Making a strategic entry into Brazil, Julius Baer Group has taken a 30 percent stake in São Paulo-based GPS, ranked as the largest independent wealth manager in Brazil.
The Brazilian firm has some $5 billion of assets under management. Baer didn\'t disclose the purchase price.
The deal underlines Julius Baer’s clear strategic intention to build its wealth management business in "one of the most attractive and promising domestic wealth management markets worldwide," the Swiss private bank said.
Like Julius Baer, GPS specialises in discretionary portfolio management and ad...
Baer breaks into Brazil with acquisition move
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