Julius Baer has acquired Swiss independent wealth manager Fransad Gestion for an undisclosed amount to expand its geographic footprint in French-speaking Switzerland.
Geneva-based Fransad commenced its activities in 2010 and currently employs 19 people and manages assets of CHF1.3bn.
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Julius Baer said Fransad will continue to operate under the existing brand in a first phase. The founders will remain on the Board and continue to provide their support to the company and its management.
Also, the existing management team will remain in place and continue to lead the company.
Julius Baer added that it will be represented on the Board of Fransad by Giovanni M.S. Flury, designated Member of the Executive Board of Julius Baer.
Fransad will complement Julius Baer’s existing independent wealth management business WMPartners Wealth Management (WMPartners), based in Zurich.
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