DJ HUGIN NEWS/Julius Baer to acquire Alpha SIM S.p.A., Milan
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Zurich/Milan, 25 May 2009 --- Julius Baer, the leading dedicated
wealth manager in Switzerland, has signed an agreement to acquire
Alpha SIM, an independent asset manager for high net worth
individuals based in Milan. Under the terms of the agreement,
Alpha SIM will merge with Julius Baer's private client business in Milan,
Julius Baer SIM. This acquisition complements Julius Baer's
well-established onshore private client and asset management
businesses in Italy and demonstrates its continued commitment to this
important market. The acquisition is subject to regulatory approval.
Julius Baer
Holding Ltd., Zurich, has signed an agreement to acquire
Alpha SIM, which is based in Milan. Specialising in portfolio
management and advisory services for high net worth individuals,
Alpha SIM has around EUR 400 million (CHF 600 million) of assets
under management. This acquisition will ideally complement Julius
Baer's well-established private client and asset management
businesses in Italy.
Under the terms of the agreement,
Alpha SIM will merge with Julius
Baer's onshore private client business in Milan, Julius Baer SIM. The
combined organisation will operate under the name Julius Baer SIM. To
ensure continuity of service, Julius Baer will build on the existing
Alpha SIM team and Stefano Canossa will remain Head of Julius Baer
SIM. The acquisition is expected to
be completed in the second half
of 2009, subject to regulatory approval. The parties to the
transaction have agreed not to disclose further details of the
agreement.
Bernard Keller, CEO Italy and Southern Switzerland at Bank Julius
Baer, stated: "Alpha SIM has a proven track record in providing
excellent service and advice that is fully consistent with our
strategy. This acquisition will significantly strengthen Julius
Baer's competitive position in the private client services segment in
Italy and underscores our continued strong commitment to this
important market."
Cosimo Bisiach and Carlo Mozzi, Co-CEOs of
Alpha SIM, stated that the
philosophy of maintaining personalised relationships with
Alpha SIM's
clients and of offering best-in-class service and advice is perfectly
in line with Julius Baer's brand and approach. They added that by
combining the skills and expertise of the two organisations, it will
be possible to create a strong basis for the successful further
development of the business - thus benefiting both clients and
employees.
Julius Baer funds were the first EU-harmonised investment funds
authorised for distribution by a foreign institution, and they have
been well established in the Italian market since the early 1990s.
The successful asset management business, Julius Baer SGR, has been
managing the assets of institutional clients since 2004. Julius Baer
SIM, which focuses on the needs of high net worth individuals,
commenced operations in June 2008. Both offices are located at Corso
di Porta Nuova 3, 20121 Milan, Italy.
About Julius Baer
The Julius Baer Group, founded in 1890, is the leading dedicated
wealth manager in Switzerland. It concentrates exclusively on private
banking and asset management for private and institutional clients.
Julius Baer's total client assets amounted to CHF 338 billion at the
end of 2008, with assets under management accounting for CHF 275
billion. Bank Julius Baer, GAM and Artio Global Investors are the key
businesses of Julius Baer
Holding Ltd., whose shares are listed on
the SIX Swiss Exchange and form part of the Swiss Market
Index (SMI),
which comprises the 20 largest and most liquid Swiss stocks.
Julius Baer employs a staff of over 4 000 in more than 20 countries
and 40 locations, including Zurich (head office), Buenos Aires,
Dubai, Frankfurt, Geneva, Hong Kong, London, Lugano, Milan, Moscow,
New York, Singapore and Tokyo.
On 20 May 2009, Julius Baer announced its intention to separate its
Private Banking and
Asset Management businesses into two
independently listed companies in order to enhance both businesses'
ability to deliver their full strategic potential.
For more information visit our website at www.juliusbaer.com.
Contact
Media Relations Tel. +41 (0)58 888 88 88
Investor Relations Tel. +41 (0)58 888 52 56
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Julius Baer
Holding Bahnhofstrasse 36, P.O. Box Zurich
Switzerland
ISIN: CH0029758650; Index: SLCI, SMI, SMIEXP, SPI;
Listed: Main
Market in SIX Swiss Exchange;
http://www.juliusbaer.com
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AS 2009. All rights reserved.
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(END) Dow Jones Newswires
May 25, 2009 12:01 ET (16:01 GMT)
