{
}
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.
Stefan Bollinger is set to take over as CEO of Julius Baer, succeeding interim head Nic Dreckmann. In a significant move, BTG Pactual has been chosen as the preferred buyer for Baer's Brazilian operations, with André Esteves, a former UBS executive, leading the charge. Meanwhile, Rolf Olmesdahl is brought in to address IT challenges at Baer, as the bank faces critical weeks ahead with potential leadership changes in its Board of Directors.
Julius Baer is divesting its wealth management business in Brazil, announcing the sale to Brazilian investment bank BTG Pactual. The bank plans to submit a purchase offer this week, valuing the Brazilian unit at approximately 1 billion Brazilian real, or around 150 million Swiss francs.
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.
Rolf Olmesdahl, a seasoned IT specialist with over 40 years of experience, has joined Julius Baer as Head of the Core Banking Program. He will oversee the renewal of the bank's core banking system for its booking centers in Switzerland and Guernsey, reporting directly to the COO. Olmesdahl previously held leadership roles at major Swiss banks, including UBS and Credit Suisse.
Julius Baer has appointed Rolf Olmesdahl as the new Head of the Core Banking Program, effective Monday. With over forty years of experience in the financial IT sector, Olmesdahl will focus on overhauling the bank's core banking system in Switzerland and Guernsey, reporting directly to the COO. His previous roles include management positions at UBS, CS, Raiffeisen, and Zurich Insurance, with his most recent position at Credit Suisse.
Sergio Ermotti dominated Swiss media in 2024 with 4,755 mentions, significantly outpacing other business leaders. Despite a 29% drop from 2023, he remains the most prominent figure, while Thomas Jordan and Thomas Schlegel follow with 3,973 and 2,608 mentions, respectively. The media landscape also saw notable mentions related to the Benko scandal and political initiatives against the EU.
Julius Baer has appointed Stefan Bollinger, a 50-year-old Swiss wealth manager and Co-Head of Private Wealth Management EMEA at Goldman Sachs, as its new CEO, effective January 9, 2025. His selection comes amid challenges following a costly debacle with investor René Benko, but Bollinger's clean slate and personable nature may help rebuild client trust. This unexpected choice echoes the bank's past success with Boris Collardi, who navigated significant challenges during his tenure.
RBC Capital Markets has raised its price target for UBS from 32 to 36 francs while maintaining an "Outperform" rating. Analyst Anke Reingen noted that the adjustments reflect updated business expectations for 2026, with UBS among the bank's favored stocks alongside Barclays, Julius Baer, Deutsche Bank, BNP Paribas, and OSB Group.
RBC has increased its price target for UBS from 32 to 36 francs, maintaining an "Outperform" rating. Analyst Anke Reingen noted that this adjustment aligns with the annual valuation model updates, with price targets now reflecting business expectations for 2026. RBC's top picks include Barclays, UBS, Julius Baer, Deutsche Bank, BNP Paribas, and OSB Group.
Julius Bär Gruppe AG
Companies
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
julius baer sells brazil wealth management unit to banco btg pactual
Swiss Franc
Brazilian Real
EFG International AG
Julius Bär Gruppe AG
Banco BTG Pactual S.A.
BRA
Juan Carlos Recoder
Show more
08:14 07.01.2025
julius baer appoints new ceo as btg pactual eyes brazil acquisition
Brazilian Real
United States Dollar
BTG Pactual Chile S.A. Administradora General De Fondos - Liquidez Alternativa Fund
The Goldman Sachs Group, Inc.
Julius Bär Gruppe AG
Raiffeisen-Osteuropa-Rent
CHE
BRA
Nic Dreckmann
André Esteves
Stefan Bollinger
Romeo Lacher
Betty Sanchez
Rolf Olmesdahl
Richard Campbell
Show more
07:51 07.01.2025
julius baer to sell brazil wealth management business to btg pactual
Swiss Franc
Brazilian Real
BTG Pactual Chile S.A. Administradora General De Fondos - Liquidez Alternativa Fund
Julius Bär Gruppe AG
BRA
07:37 07.01.2025
btg pactual acquires julius baer's brazil private banking business
Swiss Franc
Brazilian Real
Banco Santander, S.A.
Julius Bär Gruppe AG
Banco BTG Pactual S.A.
CHE
BRA
Beat Schmid
Show more
06:47 07.01.2025
Julius Baer appoints Rolf Olmesdahl as head of core banking program
United States Dollar
Julius Bär Gruppe AG
Zurich Insurance Group AG
Raiffeisen-Osteuropa-Rent
Credit Suisse Real Estate Fund Siat
CHE
Nic Dreckmann
Rolf Olmesdahl
Show more
10:44 06.01.2025
julius baer appoints rolf olmesdahl as head of core banking program
United States Dollar
CS. Barthoulot-Coaching SNC
Julius Bär Gruppe AG
Zurich Insurance Group AG
Raiffeisen-Osteuropa-Rent
Credit Suisse Real Estate Fund Siat
CHE
Nic Dreckmann
Rolf Olmesdahl
Show more
10:44 06.01.2025
Sergio Ermotti leads Swiss media mentions despite decline in visibility
Swiss Franc
Euro
United States Dollar
Axon Partners Group, S.A.
Raiffeisen-Osteuropa-Rent
Julius Bär Gruppe AG
Swiss Federal Railways (Schweizerische Bundesbahnen)
CHE
René Benko
Alfred Gantner
Romeo Lacher
Urs Wietlisbach
Thomas Jordan
Thomas Schlegel
Mario Irminger
Peter Fanconi
Giorgio Pradelli
Kubra Khan
Philipp Hildebrand
Urs Baumann
Colm Kelleher
Peter Spuhler
Heinz Huber
Vincent Ducrot
Roberto Cirillo
Marlene Amstad
Philipp Rickenbacher
Sergio Ermotti
Show more
07:43 31.12.2024
julius baer surprises with appointment of stefan bollinger as new ceo
Swiss Franc
MERRILL LYNCH MLCX SX6L INDEX
Julius Bär Gruppe AG
Credit Suisse High Yield Bond Fund, Inc.
The Goldman Sachs Group, Inc.
CHE
René Benko
Giorgio Pradelli
Evie Kostakis
Oswald Grübel
Annabel Spring
Ralph Hamers
Boris Collardi
Stefan Bollinger
Philipp Rickenbacher
Nic Dreckmann
Show more
06:41 30.12.2024
RBC raises UBS price target to 36 francs maintains outperform rating
Swiss Franc
Barclays PLC
Julius Bär Gruppe AG
Deutsche Bank RV Global PP
BNP Paribas SA
CHE
Anke Reingen
Show more
12:54 27.12.2024
RBC raises UBS price target to 36 francs maintaining outperform rating
Swiss Franc
Barclays PLC
Julius Bär Gruppe AG
Deutsche Bank RV Global PP
BNP Paribas SA
GBR
DEU
FRA
CHE
Anke Reingen
Show more
12:54 27.12.2024
Trending
Subcategory
Corporate News
Industry Trends
Stock Market Updates
Industry Mergers & Acquisitions
Workplace Trends
Global Financial Events
Retail and Consumer Goods
Banking Regulations
Finance Mergers & Acquisitions
CEO Changes
Market Analysis and Predictions
Government Policies
Startups & Entrepreneurship
Central Bank Actions
Global Trade Developments
Domestic Politics
Financial Scams and Security
Private Equity Deals
Government Economic Policies
Corporate Social Responsibility
Countries:
Companies:
JPMorgan Chase & Co.
Tesla, Inc.
Barclays PLC
Credit Suisse Lux Digital Healt
Bank of America Corporation
UBS Group AG
Deutsche Bank Money Market PP
Apple Inc.
BNP Paribas SA
The Goldman Sachs Group, Inc.
Wells Fargo & Company
Commerzbank AG
Banco Santander, S.A.
SpaceXCoin USD
UniCredit S.p.A.
Amazon.com, Inc.
Morgan Stanley
Danske Bank A/S
NVIDIA Corporation
Google Inc.
Currencies:
United States Dollar
Euro
British Pound Sterling
Chinese Yuan
Swiss Franc
Indian Rupee
Japanese Yen
Hong Kong Dollar
Danish Krone
South Korean Won
Australian Dollar
Singapore Dollar
Russian Ruble
Offshore Chinese Yuan
Canadian Dollar
Mexican Peso
Indonesian Rupiah
Turkish Lira
Chilean Peso
United Arab Emirates Dirham
People: