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Rating:Julius Baer Continues its Remake Not Rated 5.0 Email Routing List Email & Route  Print Print
Thursday, May 21, 2009

Julius Baer Continues its Remake

by: Sean Hanna, Editor in Chief

Is Julius Baer positioning its asset management business for a sale. That is the speculation raised in a Wall Street Journal report covering the decision by the Swiss bank to split itself into two separately-listed businesses.

The bank will list its private bank (Julius Baer Group Ltd.) in one business, while placing its asset-management and hedge-fund units in a new entity called GAM Holding. Along with Julius Baer Asset Management, GAM Holding will also include GAM and Artio Global.

The move is not expected to slow the spin out of Artio, Julius Baer's U.S. mutual fund business in a separate offering. Artio manages 48 billion francs and is headquartered in New York. Its IPO is expected in the third quarter.

The WSJ quotes analysts who speculate that the move "makes both businesses potential acquisition targets."

The asset-management business could be worth as much as two billion Swiss francs say the analysts.

The second entity combines hedge-fund boutique GAM, Artio Global and Julius Baer Asset Management Europe into GAM Holding Ltd. 

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