Julius Baer has sold Geneva-based Fransad Gestion SA (Fransad) to the management team of the independent wealth manager.
In a statement on 2 June, Julius Baer said the transaction, which took place on 1 June 2022, followed its decision to reduce the complexity of its portfolio of companies.
The deal would also allow Fransad to strengthen its positioning as a major Swiss independent wealth manager under the ownership of the existing management team.
Although Fransad will no longer belong to the Julius Baer Group, "both parties will maintain a partnership going beyond traditional custodian services", it said.
Founded in 2010 in Geneva, the independent wealth manager Fransad manages around CHF 1.5 billion of assets and employs around 20 people, including 10 relationship managers.
It has partnership agreements with several leading Swiss and international custodian banks and offers wealth management solutions tailored to the needs of high-net-worth individuals and entrepreneurs.
The parties have agreed not to disclose the details of the transaction.
