Julius Baer successfully closes acquisition of Reliance Group
The acquisition of 95% of Reliance Group in Brazil, announced in January 2018, was closed successfully on 4 June 2018.
Zurich / São Paulo, 5 June 2018 – Julius Baer announced today that the closing of the acquisition of 95% of the São Paulo-based Reliance Group (Reliance) took place on 4 June 2018 as planned.
Reliance is one of the largest independent wealth managers in Brazil, with client assets of approximately BRL 18 billion (approximately CHF 5 billion), mainly in advisory mandates.
This acquisition significantly strengthens Julius Baer’s strategic position in Brazil, where the Group is already present with the wholly owned GPS Investimentos (GPS), the country’s largest independent wealth manager with client assets of approximately BRL 29 billion (approximately CHF 8 billion).