View all newsletters
Receive our newsletter – data, insights and analysis delivered to you
  1. News
February 28, 2022

Julius Baer to offload majority holdings in Mexican wealth manager NSC Asesores

By Johney Amala

Julius Baer has decided to divest its majority interest in Mexican wealth manager NSC Asesores, following a review of its strategic participations.

The Swiss private bank said that it will sell a 50.1% stake in the Mexican firm to Stratos Wealth Partners.

The firm, however, will retain its 19.9% holdings in NSC as part of its ongoing commitment to the Mexican wealth management market.

Financial details of the transaction were not divulged.

Julius Baer acquired an initial 40% holding in NSC Asesores in 2015. In 2019, it purchased an additional 30% in the firm, becoming the majority shareholder.

Founded in 1987, NSC Asesores specialises in consulting and wealth management. The firm had client assets of more than $4bn, as of 31 December 2021.

The sale follows Julius Baer’s strategic review that concluded ‘NSC will develop and grow best under a different ownership structure’.

Julius Baer said in a statement: “The current managing partners of NSC Asesores will continue to hold 30% and Stratos Wealth Partners will be the new majority owner of the company.

“Julius Baer will retain a minority participation of 19.9% and remains committed to the Mexican market, which represents an important market for the Group. The transaction was signed and closed on the same day.”

Recent moves by Julius Baer

Julius Baer reported IFRS attributable net profit of $1.18bn (CHF1.08bn) in 2021, an increase of 55% from the previous year and exceeding the CHF1bn mark for the first time.

The firm’s assets under management (AuM) grew 11%, benefitting from strong net inflows.

Last month, Julius Baer agreed to divest Wergen & Partner Wealth Management to the management of Wergen & Partner.

Related Companies

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Wednesday. The industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy


Thank you for subscribing to Private Banker International