With a population of around 210 million people, a wealth of natural resources, and one of the world’s largest economies in nominal GDP terms, according to the International Monetary Fund, Brazil has always been a land of great potential. Some of Brazil’s key economic strengths include a huge market, a diversified economy with a historically solid industrial base, a strong agricultural sector, and a robust domestic market.
Our strategic market entry in Brazil started in 2011, when Julius Baer acquired an important minority participation in the leading independent Brazilian wealth manager, São-Paulo-based GPS. Three years later, in 2014, Julius Baer acquired another 50 per cent of the company; this increased Julius Baer’s participation in GPS to 80 per cent, which grew to 100 per cent in 2016. In 2018, Julius Baer acquired a 95 per cent stake in the Reliance Group. With this last acquisition, and together with the now fully owned subsidiary GPS, Julius Baer opened its doors to Brazilian clients under the name Julius Baer Family Office in 2020.
In April this year, we stepped up our investment in the market with new hires and the launch of the new Julius Baer Advisory Office in São Paulo. This investment underscores Julius Baer’s strategic objective to build its wealth management business in one of the most attractive and promising markets worldwide.
Did you know that?
- With a dedicated team of employees in Brazil and Switzerland, we serve our Brazilian private clients, jointly with Brazil International, Julius Baer Family Office, and Julius Baer Advisory Office, from our offices in Zurich, Geneva, Lugano, Monaco, São Paulo, Rio de Janeiro, and Belo Horizonte. This combination of local proximity and our international investment expertise differentiates us from most domestic competitors.
- Julius Baer Family Office is one of the leading local independent wealth managers in Brazil. Our holistic approach to investment advice and our comprehensive offering appeal to the region’s HNWIs and UHNWIs.
- Through the partnership with the local digital investment advisor Magnetis, Julius Baer taps into the segment of younger, tech-savvy investors. Brazil has a vibrant ecosystem of venture capital, FinTechs, as well as investments in start-ups in various dynamic segments.
- In its efforts to reduce wealth inequality, the Julius Baer Foundation supports two projects in Brazil:
- The Brazilian real estate fund ‘Fundo Imobiliário Comunitário para Aluguel’ (FICA), which looks for alternatives to the speculative housing market and provides low-income people access to affordable housing.
- Project FA.VELA in Brazil to combat wealth inequality. This initiative brings together privileged and underprivileged individuals to foster an entrepreneurial culture and develop skills and resources for modelling and managing resilient businesses and ensuring fairer, more inclusive local and digital economies.
- In its inaugural year, the jurors of the Julius Baer Art Prize for Latin American Female Artists, in collaboration with the Museum of Modern Art in Bogota – MAMBO, gave a special mention to Brazilian artist Rosângela Rennó for her project “La Tierra de Don José Nadie”. The project proposes a revision of the social processes of conscience and resistance since 1980 in Brazil, highlighting how “Nothing has changed even though it seems that everything has changed”.