Julius Baer sells Fransad business to management

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“The transaction, which was executed on 1 June 2022, follows the decision of Julius Baer to reduce the complexity of its portfolio of companies and allows Fransad to strengthen its positioning as a major Swiss independent wealth manager under the ownership of the existing management team,” it said.

Baer will continue to work with Fransad, which manages around 1.5 billion Swiss francs ($1.56 billion) of assets.

($1 = 0.9630 Swiss francs)