Swiss private bank Julius Bär has signed an agreement to sell its operation in Brazil, Julius Baer Brasil Gestão de Patrimônio e Consultoria de Valores Mobiliários, to Banco BTG Pactual for 615 million reais, or CHF91 million ($100.7 million). +Get the most important news from Switzerland in your inbox The Swiss bank will continue to serve its Brazilian customers from other regions where the group is present, it said in a press release on Tuesday. These include Mexico, Chile, Uruguay, Colombia and Spain. In Brazil, Julius Bär currently has branches in São Paulo, Belo Horizonte and Rio de Janeiro, where it serves wealthy clients. At the end of November 2024, the company had 61 billion reais (CHF9 billion) of assets under management there. The transaction, scheduled to close by the end of March, is expected to add 30 basis points to the bank's CET1 ratio. The latter stood at 16.7% at the end of the first ten months of 2024. Brazilian media outlet O Globo had leaked the information on ...
