Julius Baer announces Principal Closing of its acquisition of Merrill Lynch's International Wealth Management business Zurich, 1 February 2013 --- As planned, the Principal Closing of Julius Baer's acquisition of Merrill Lynch's International Wealth Management business outside the United States (IWM) from Bank of America, which was announced in August 2012, took place today. At the same time and as a first step of the integration, Julius Baer acquired the Geneva-based Merrill Lynch Bank (Suisse) S.A. with around CHF 11 billion assets under management. The Principal Closing marks the start of the approx. two-year business transfer and integration phase. During this period IWM entities, financial advisors, their client relationships and related assets under management will be transferred to Julius Baer in a staggered process in the respective more than 20 locations, subject to the fulfilment of local preconditions. The first step in the acquisition and business transfer process is the acquisition of Merrill Lynch Bank (Suisse) S.A. and its branches in Zurich and Dubai by Julius Baer Group Ltd. at the Principal Closing on 1 February 2013. It encompasses the entire Swiss bank with a strong international client base and assets under management of around CHF 11 billion. Merrill Lynch Bank (Suisse) S.A. is expected to be merged into Bank Julius Baer & Co. Ltd. in summer 2013. "The Principal Closing marks the beginning of a new era for our Group: together with our new colleagues we endeavour to build the new reference in private banking, setting new standards in our industry for the benefit of our sophisticated clientele. The IWM business is an excellent strategic fit, strengthening Julius Baer's presence in key growth markets and significantly enlarging our asset base," comments Boris F.J. Collardi, CEO of Julius Baer. Headquartered in Zurich, Julius Baer has offices in more than 20 countries worldwide: Switzerland Ascona, Basle, Berne, Crans-Montana, Geneva, Kreuzlingen, Lausanne, Lucerne, Lugano, Sion, St. Gallen, St. Moritz, Verbier, Zug, Zurich Europe Duesseldorf, Frankfurt, Guernsey, Hamburg, Istanbul, Kiel, London, Milan, Monaco, Moscow, Munich, Paris, Stuttgart, Vienna, Würzburg Americas Lima, Montevideo, Nassau, Santiago de Chile Asia-Pacific Hong Kong, Jakarta, Shanghai, Singapore Middle East and Africa Abu Dhabi, Cairo, Dubai, Tel Aviv Additional offices expected in Amsterdam, Bahrain, Beirut, Dublin, India, Luxembourg, Madrid and Panama. Further information on the status and future development of the acquisition, asset transfer and integration process will be provided at the presentation of Julius Baer's full-year results 2012 on 4 February 2013 at 9.30 a.m. (CET). Contacts Media Relations, Tel. +41 (0)58 888 8888 Investor Relations, Tel. +41 (0)58 888 5256 About Julius Baer Julius Baer is the leading Swiss private banking group with focus on servicing and advising sophisticated private clients and a premium brand in global wealth management. Bank Julius Baer & Co. Ltd., the renowned Swiss private bank with origins dating back to 1890, is the principal operating company of Julius Baer Group Ltd., whose shares are listed on the SIX Swiss Exchange (ticker symbol: BAER) and form part of the Swiss Market Index (SMI) of the 20 largest and most liquid Swiss stocks. Julius Baer is currently integrating Merrill Lynch's International Wealth Management business outside the US. This will increase the Group's presence to more than 25 countries and 50 locations. Headquartered in Zurich, we have offices from Dubai, Frankfurt, Geneva, Hong Kong, London, Lugano, Monaco, Montevideo, Moscow, Shanghai to Singapore. For more information visit our website at www.juliusbaer.com Provider Channel Contact Tensid Ltd., Switzerland newsbox.ch Provider/Channel related enquiries www.tensid.ch www.newsbox.ch email@example.com +41 41 763 00 50
Julius Baer announces Principal Closing of its acquisition of Me
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