The agreed transaction price is 1.2% of AuM transferred (payable as and when AuM transfer to Julius Baer).
Irrespective of the AuM transferred between CHF 57 billion and CHF 72 billion, the EPS accretion (1) target in 2015 is approx.
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the first full steady-state year following integration. The acquisition is expected to be earnings accretive from the third full-year following principal closing, i.e. In addition there will be cross-referral of clients between both organisations.
This acquisition brings Julius Baer a major step forward in its growth strategy and will considerably strengthen its leading position in global private banking by adding substantial scale and additional offices primarily in growth markets, but also in Europe.Īs part of the transaction, Julius Baer and Bank of America Merrill Lynch (BofAML) have agreed to enter into a cooperation agreement whereby BofAML will provide certain products and services to Julius Baer, including global equity research.
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40% to CHF 251 billion and its total client assets to CHF 341 billion, both on a pro forma basis. Assuming CHF 72 billion AuM transferred, Julius Baer’s existing AuM as of 30 June 2012 would increase by approx. The transaction is a combination of legal entity acquisitions and business transfers, that by the end of the expected two-year integration period, is currently estimated to result in additional AuM of between CHF 57 billion and CHF 72 billion, of which approximately two thirds from growth markets. In addition, the use of the word ‘independent’ to describe any person(s) or organisation(s) based in the UK should not be construed as giving any indication of whether such person provides ‘independent advice’ or ‘restricted advice’, according to the definitions of those terms under the rules of the UK Financial Conduct Authority.Julius Baer, the leading Swiss private banking group, has agreed, subject to regulatory and shareholder approvals, to acquire Merrill Lynch’s International Wealth Management business (IWM) based outside the US with USD 84 (CHF 81) billion of assets under management (AuM) as of 30 June 2012 and over 2,000 employees, including more than 500 financial advisers. ²Where any person(s) or organisation(s) referred to on this website is described as ‘independent’, this should not be construed to mean that such person: (a) is able to clearly demonstrate that it does not have financial or commercial links with product providers that are capable of influencing its recommendations (b) operates with objectivity and impartiality, and does not have any potential conflict of interest when recommending an investment product as a result of commercial or financial links with a product provider (c) does not receive any commission or other benefit from any third party that is likely to create a bias in favour of a particular investment product, class of investment product or product provider and (d) does not pay any commission or confer other benefit upon its representatives which may create product bias. Our internal specialists and relationship managers in the UK provide ‘restricted advice’ on the limited range of investment products selected for the Julius Baer product and service platform. ¹Our ‘open product and service platform’ offers both investment products provided by Julius Baer and those provided by a limited number of third-party product providers. Welcome to the private banking world of Julius Baer. Headquartered in Zurich, we have offices in key locations including Dubai, Frankfurt, Geneva, Hong Kong, London, Lugano, Monaco, Montevideo, Moscow, Singapore and Tokyo. Julius Baer is present in all major financial centres.
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