Julius Baer, the leading dedicated wealth manager in Switzerland, has acquired Capital Invest (Monaco) S.A.M., effective 4 October 2007. The acquisition is part of Julius Baer's strategy to strengthen its presence in key private banking markets worldwide and to continue its international expansion.
Capital Invest (Monaco) S.A.M. offers comprehensive portfolio management services and advice to high net worth individuals and has over CHF 400 million in assets under management. The company's existing team will remain in place, ensuring continuity of service for its clients. It is planned that Capital Invest will be rebranded as Julius Baer (Monaco) S.A.M., subject to regulatory approval. The other terms of the transaction are not being disclosed.
Alex W. Widmer, CEO Private Banking at Julius Baer, stated: "This acquisition ideally complements our presence in Europe by enlarging our footprint. The combination of Julius Baer's international wealth management expertise and Capital Invest's extensive knowledge of the local market and existing business network will provide us with a solid foundation upon which to build a strong franchise in Monaco."
Bernard Rousselot, Chairman and former owner of Capital Invest, added: "Julius Baer's philosophy of maintaining personalized relationships with its clients and of offering superior service and advice is fully in line with our approach. This creates an optimal basis for the successful development of our business which will benefit both our clients and employees."