Japanese brokerage Nomura has acquired a 40% stake in Julius Baer Wealth Management (JBWM), a Julius Baer subsidiary serving HNW clients in Japan.
JBWM focuses on offering discretionary services to Japan-based clients through its portfolio management team in Zurich. The service is distributed through Tokyo-based relationship managers.
Commenting on the service, the companies said: “The investment process pays particular attention to currency risks, and the team has been adept at navigating market cycles, aiming to preserve client capital during times of financial market distress.”
The acquisition will enable Julius Baer to gain access to Nomura’s HNW clients in Japan and offer them bespoke discretionary services.
The deal, for which the financial terms were not disclosed, is expected to close in the end of this year.
Upon deal closing, JBWM will be rebranded as Julius Baer Nomura Wealth Management.
Julius Baer Group CEO Bernhard Hodler said: “Global financial markets are becoming increasingly complex, requiring skilful risk management, which is at the core of our offering in Japan.
“Working together with Nomura and its comprehensive domestic network and knowledge, we can best share our internationally diversified offering with a new audience and maximise the value of our presence in Japan.”
Nomura said that the deal will not have a material effect on its consolidated results.