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Business & Finance

Swiss bank Julius Baer to sell Brazilian business

Published January 7, 2025 Updated January 7, 2025 01:22pm
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By Reuters
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ZURICH: Swiss bank Julius Baer said on Tuesday it will sell its Brazilian domestic wealth management business to Banco BTG Pactual for 615 million Brazilian real ($100.57 million).

As of Nov. 30, the business - which has offices in Sao Paulo, Belo Horizonte and Rio de Janeiro - had assets under management of 61 billion Brazilian real.

Julius Baer reports more money inflows after slow start to 2023

Closing of the deal is expected in the first quarter of 2025, Julius Baer said.

Julius Baer Swiss bank

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