Swiss private banking group Julius Baer and Swiss money manager GAM have terminated brand licence agreement that was struck after Julius Baer spun out GAM Holding asset management business.
In 2009, Julius Baer Holding separated its private banking and asset management businesses into two independent entities, Julius Baer Group and GAM Holding, respectively.
Despite the split, GAM operated Julius Baer-branded investment funds under a royalty-generating brand licence agreement.
The two companies have agreed to terminate the agreement, with a transition period of six months.
Julius Baer CEO Boris Collardi said: “With this, the Julius Baer brand is in exclusive use for the Julius Baer Group.
“Since the separation in 2009, we have more than doubled our client base and considerably strengthened our brand as well as our position as the leading pure private banking Group.”