Rumors surrounding Julius Baer's potential IPO were given credence Tuesday. Julius Baer Holdings has filed
with the SEC to offer as much $1 billion in shares of Julius Baer Americas on the NYSE. The filing also states that Julius Baer Americas will be renamed Artio Global Investors Inc., prior to the IPO.
In November of this year, Baer executives said they were evaluating options for the investment management division as it did not fit with the company's private banking focus. (see: "Report: Baer to Seek IPO for U.S. Fund Shop"
November 9, 2007)
In a release coinciding with the filing, Baer executives it expects the IPO will be completed sometime this year.
Julius Baer Americas is the parent to Julius Baer Investment Management, the company's U.S. mutual fund operation. Goldman, Sachs and Merrill Lynch are underwriting the deal.
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