Julius Baer Group has completed the acquisition of a 30% stake in São Paulo-based GPS. The Brazilian independent wealth manager includes GPS Planejamento Financeiro and Administração de Recursos. The deal is part of Julius Baer’s strategy to build its wealth management business in Latin America.
The financial details of the transaction have not been disclosed. As a part of the deal, the current nine partners of GPS will continue to lead the business independently with the same team and pursue the same client-focused strategy. The buyer will be represented on the board of directors of GPS.
Click here for the release from Julius Baer.