Sale of domestic Brazilian business successfully completed

Julius Baer Group announces the successful closing of the sale of its domestic Brazilian wealth management operation to BTG Pactual on 28 March 2025.

Zurich, 28 March 2025 – Following the signing of an agreement to sell Julius Baer Brasil Gestão de Patrimônio e Consultoria de Valores Mobiliários Ltda. (Julius Baer Brazil) to Banco BTG Pactual S.A. (BTG) on 7 January 2025, all pre-closing steps were efficiently and successfully completed, and regulatory approvals received to execute the sale as envisaged.

The transaction is approximately 30-40 bps accretive to Julius Baer’s CET1 capital ratio and expected to result in a one-off impact to operating income of approximately CHF 100 million, mainly resulting from non-cash cumulative currency translation adjustments already recognised in the Group’s equity.

As per closing date 28 March 2025, Julius Baer Brazil has been deconsolidated from Julius Baer Group. Julius Baer will continue to service Brazilian clients out of other locations and as such, remains committed to its Brazil International business and its broader wealth management activities in Latin America.

Contacts

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About Julius Baer

Julius Baer is the leading Swiss wealth management group and a premium brand in this global sector, with a focus on servicing and advising sophisticated private clients. In all we do, we are inspired by our purpose: creating value beyond wealth. At the end of 2024, assets under management amounted to CHF 497 billion. Bank Julius Baer & Co. Ltd., the renowned Swiss private bank with origins dating back to 1890, is the principal operating company of Julius Baer Group Ltd., whose shares are listed on the SIX Swiss Exchange (ticker symbol: BAER) and are included in the Swiss Leader Index (SLI), comprising the 30 largest and most liquid Swiss stocks.

Julius Baer is present in around 25 countries and 60 locations. Headquartered in Zurich, we have offices in key locations including Bangkok, Dubai, Dublin, Frankfurt, Geneva, Hong Kong, London, Luxembourg, Madrid, Mexico City, Milan, Monaco, Mumbai, Santiago de Chile, Shanghai, Singapore, Tel Aviv, and Tokyo. Our client-centric approach, our objective advice based on the Julius Baer open product platform, our solid financial base, and our entrepreneurial management culture make us the international reference in wealth management.

For more information visit our website at www.juliusbaer.com