Wealth giant Julius Baer will sell its Switzerland-based subsidiary Wergen & Partner Wealth Management.
Wergen’s management team will acquire 100% of the shares of the company for an undisclosed sum.
Julius Baer acquired the firm in 2017.
The current management team at Wergen & Partner WM comprises six people and they will continue to serve their clients which are booked with various custodian banks.
The M&A deal is expected to be finalised in Q1 2022.
The decision to sell the subsidiary follows a strategic review of Julius Baer’s participations which concluded that the firm can best develop under the ownership of current and future management.
