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julius baer sells brazil wealth management unit to banco btg pactual
Julius Baer is divesting its Brazilian wealth management subsidiary to Banco BTG Pactual, while continuing to serve clients from other locations. The sale, valued at CHF 91 million, is expected to enhance Julius Baer's CET1 capital ratio by approximately 30 basis points and is set to close in early 2025, pending regulatory approvals.
btg pactual acquires julius baer's brazil private banking business
Banco BTG Pactual has acquired Julius Baer's Brazilian wealth management business, Julius Baer Brasil Gestão de Patrimônio e Consultoria de Valores Mobiliários Ltda., for 91 million francs, significantly below earlier estimates. The deal, expected to close in Q1 2025, will not affect Julius Baer's international offshore operations, which will continue to serve Brazilian clients from other locations.
efg international acquires bsi for 1.33 billion francs expanding private banking presence
EFG International has acquired BSI for 1.33 billion francs, with a cash payment of 975 million francs to BTG Pactual and the issuance of 52.6 million shares. The merger will create Switzerland's fifth largest private bank, managing approximately 170 billion francs in assets, while retaining both brands initially. The transaction is expected to finalize in the fourth quarter, pending shareholder and regulatory approval.
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