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Julius Baer to sell Wergen wealth management business -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: A branch of Julius Baer, a Swiss bank in Zurich (Switzerland), February 3, 2020. REUTERS/Arnd Wiegmann/File Photo

ZURICH (Reuters) – Julius Baer has agreed to sell Wergen & Partner Wealth Management to its management, the Swiss private bank said on Monday.

Julius Baer purchased Zurich-based Wergen on February 2017 and stated the company had always been financially sound, with a doubled amount of assets under management. He did not give any figures.

Both parties agreed to not disclose the purchase price of the agreement, which is anticipated to close during the first quarter 2022.

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