Swiss private bank Julius Baer has decided to sell Geneva-based independent wealth manager Fransad Gestion SA.
Fransad will be bought by its management team and an industrial partner who took the opportunity to pursue its own growth strategy.
The two firms will continue to work closely together, Julius Baer said.
Executed on 1 June, the transaction follows Julius Baer’s decision to reduce the complexity of its portfolio of companies.
Founded in 2010 ...