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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.”