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Julius Baer: acquires majority stake in Mexican firm

( - Julius Baer has acquired a majority stake in Mexican independent wealth management firm NSC Asesores, the Swiss private bank said on Monday.

The Zurich-based group has increased its stake in NSC Asesores by acquiring an additional stake of 30% of the company, following its initial purchase of 40% in 2015, it said.

Julius Baer said that the transaction will significantly strengthen its position in Mexico, the second largest economy in Latin America and a "core market" in the region for the group.

NSC Asesores manages has approximately 3.5 billion dollars in assets under management.

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