Julius Baer acquires majority stake in NSC Asesores

Julius Baer acquires majority stake in NSC Asesores

Julius Baer, the leading Swiss wealth management group, today announced that it has increased its stake in NSC Asesores by acquiring an additional participation of 30% of the company, following its initial purchase of 40% in 2015. The transaction will significantly strengthen Julius Baer's and NSC Asesores' position in Mexico.

Zurich/Mexico City, 4 March 2019 - In 2015, Julius Baer started a strategic partnership with NSC Asesores, S.A. de C.V., Asesor en Inversiones Independiente (NSC Asesores), one of the largest independent wealth management companies in Mexico. On the back of this successful initial partnership, the Bank has decided to acquire an additional interest of 30%, thereby increasing its overall participation to 70% for an undisclosed amount.

NSC Asesores manages client assets of approximately USD 3.5 billion. 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 & Co. Ltd., 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."

Claudio Núñez, CEO of NSC Asesores, said: "We are very pleased with the development of NSC Asesores over the last years and the partnership with Julius Baer. As we are both pure wealth managers, this transaction strengthens our commitment to provide independent investment excellence to our clients. I am very much looking forward to deepening this partnership and being able to add further global market know-how, international scale and access to our offering."

Contacts

Media Relations, tel. [phone]

Investor Relations, tel. [phone]

NSC Asesores, tel. [phone]

About Julius Baer

Julius Baer is the leading Swiss wealth management group and a premium brand in this global sector, with a focus on servicing and advising sophisticated private clients. At the end of 2018, assets under management amounted to CHF 382 billion. Bank Julius Baer & Co. Ltd., the renowned Swiss private bank with origins dating back to 1890, is the principal operating company of Julius Baer Group Ltd., whose shares are listed on the SIX Swiss Exchange (ticker symbol: BAER) and are included in the Swiss Market Index (SMI), comprising the 20 largest and most liquid Swiss stocks.

Julius Baer is present in over 25 countries and more than 50 locations. Headquartered in Zurich, we have offices in key locations including Dubai, Frankfurt, Geneva, Hong Kong, London, Luxembourg, Milan, Monaco, Montevideo, Moscow, Mumbai, Singapore and Tokyo. Our client-centric approach, our objective advice based on the Julius Baer open product platform, our solid financial base and our entrepreneurial management culture make us the international reference in private banking.

For more information visit our website at www.juliusbaer.com

About NSC Asesores

NSC Asesores is a leader in the independent financial advisory market in Mexico. The firm was founded in 1989 and is a founding member of the Asociación Mexicana de Asesores Independientes en Inversiones A.C. (AMAII). NSC Asesores is comprised of 16 partners and a 73 employee platform, all of whom are committed to the focused attention and service to its clients. It is the professional and independent advisory in the management and optimization of its clients' estates, in accordance with their personal objectives, that has transformed NSC Asesores into a leading institution in the area of wealth management in Mexico.

For more information visit the website at www.nscasesores.com

Provider		Channel		Contact
Tensid EQS Ltd., Switzerland www.tensid.ch		newsbox.ch www.newsbox.ch		Provider/Channel related enquiries [e-mail] [phone]