Swiss wealth management group Julius Baer has purchased an additional 30% stake in Mexican wealth management firm NSC Asesores, S.A. de C.V., Asesor en Inversiones Independiente for an undisclosed sum.
Image: Julius Baer has acquired additional stake in NSC Asesores. Photo: courtesy of Photo Cytonn Photography / Unsplash.
In 2015, Julius Baer acquired 40% interest in NSC Asesores and the current transaction allows to increase the firm’s stake in the Mexican firm to 70%.
The latest deal will help strengthen both companies position in Mexico. NSC Asesores is said to manage client assets of around $3.5bn.
NSC Asesores’ current management team under the leadership of CEO Claudio Núñez and deputy CEO Mariví Esteve de Murga will remain with the business and continue to manage the operations with the support of Julius Baer.
NSC Asesores is specialized in managing all types of liquid investments, as well as operations within the securities and banking sector such as debt instruments, shares listed on the stock Exchange, investment companies, instruments indexed to the exchange rate and inflation, warrants and exchange traded funds.
The company also offers f economic and financial analysis of the markets, in addition to various investment instruments.
Julius Baer bank executive board member and Latin America head Beatriz Sanchez said: “Mexico is the second largest economy in Latin America and constitutes a core market in the region for Julius Baer.
“The strategic partnership with NSC Asesores represents an excellent opportunity to leverage Julius Baer’s broad offering. By raising our participation to a majority stake, we will be able to increase the level of cooperation for the benefit of both companies’ clients.”
NSC Asesores CEO Claudio Núñez said: “We are very pleased with the development of NSC Asesores over the last years and the partnership with Julius Baer. As we are both pure wealth managers, this transaction strengthens our commitment to provide independent investment excellence to our clients.”
In September 2018, Japanese financial services firm Nomura agreed to acquire a 40% stake in Julius Baer Wealth Management (JBWM) from Julius Baer Group for an undisclosed price.
The Julius Baer subsidiary is engaged in providing discretionary investment services for Japan-based clients.