Julius Baer plans to split its private banking and asset management arms into two independently-listed companies, with reports suggesting it could eventually offload the fund operations.
All banking activities will be combined and listed under Julius Baer Group - while GAM, Artio Global and Julius Baer Asset Management Europe are to be united and listed as GAM Holding. The Swiss group says the move will increase the two companies' strategic flexibility and enhance their market visibility. The FT also reports Baer expects to eventually dispose of the fund management businesses, with chairman Raymond J. Baer saying "this is a good time to be a first mover positioning the bank in a pure form". Subject to shareholder and regulatory approvals, an EGM has been planned for 30 Ju...
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