Julius Baer: acquires majority stake in Mexican firm
(CercleFinance.com) - 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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