The company said its acquisition underlines its “clear strategic intention to build its wealth management business in one of the most attractive and promising domestic wealth management markets worldwide”.
GPS is the largest independent wealth manager in Brazil with approximately $5bn in assets under management. It’s business is similar t that of Julius Baer’s, providing specialised discretionary and advisory services for high net worth individuals. The, which company employs 84 staff, was established by three founding partners, partners José Eduardo Martins, Marco Belda and Roberto Rudge. It is regulated by the CVM, the Securities and Exchange Commission of Brazil.
The current nine partners will continue to lead the business independently with the same team and pursue the same client-focused strategy. Julius Baer will be represented on the board of directors of GPS by two members.
