Swiss wealth management group Julius Baer has increased its stake in NSC Asesores by acquiring
The transaction will significantly strengthen Julius Baer’s and NSC Asesores’ position in Mexico.
NSC Asesores manages client assets of approximately $3.5bn. The transaction is immediately accretive to Julius Baer’s earnings per share and will have a modest impact on the Group’s capital ratios.
The current management team of NSC Asesores under the leadership of Claudio Núñez, CEO, and Mariví Esteve de Murga, deputy CEO, will remain in place and continue to drive the business in close cooperation with Julius Baer.
Beatriz Sanchez, head Latin America and member of the executive board at Bank Julius Baer, said: “Mexico is the second largest economy in Latin America and constitutes a core market in the region for Julius Baer. The strategic partnership with NSC Asesores represents an excellent opportunity to leverage Julius Baer’s broad offering. By raising our participation to a majority stake, we will be able to increase the level of cooperation for the benefit of both companies’ clients.”
Source: international investment
The Mazatlan Post