Julius Baer will continue to service Brazilian clients out of other locations and as such, the Brazil International business remains unaffected. In Region Americas & Iberia, Julius Baer has presences in Mexico, Chile, Uruguay, Colombia, and Spain.

Julius Baer Brazil, with offices in São Paulo, Belo Horizonte, and Rio de Janeiro, is an independent wealth manager in Brazil focused on high and ultra-high-net-worth segments.

As of 30 November 2024, it had assets under management of BRL 61bn (CHF 9bn).

The transaction is expected to be approximately 30 bps accretive to Julius Baer’s CET1 capital ratio at close, based on a total cash consideration of BRL 615m (CHF 91m). Closing of the transaction is subject to customary regulatory approvals and expected in the first quarter of 2025.

Carlos Recoder, head Americas & Iberia, Julius Baer, said: “Following a thorough review of our domestic business in Brazil over the past 12 months, it was concluded that for the benefit of our clients it is important to preserve the multi-family office approach, while further enhancing investment capabilities and upgrading technology.

“The acquisition of our domestic Brazilian franchise by BTG, a leading domestic financial institution, makes this possible and allows to deliver a compelling and differentiated value proposition for our clients and employees.”

The firm, which is part of the Julius Baer Group, has hired two new relationship managers, Aidan Dunstan and Alison Lander as well as assistant relationship manager, Stacey Kirby, who all join from UBS.

Dunstan has more than 30 years’ experience in wealth management, working with families, business owners and entrepreneurs in the region.

Lander has over 30 years’ private-banking experience in Newcastle and Kirby has worked with high-net-worth clients in Newcastle for 20 years.

They will join the existing North East team of Simon Patterson and Chris Shearsmith.

The Newcastle office is JBI’s sixth in the UK, adding to its others in London, Edinburgh, Belfast, Leeds and Manchester.

To read more on this topic, visit: Private bank rolls out Asia wealth training programme

David Durlacher chief executive, commented: “While we have had a presence in the North East for over five years, the opening of our new office is a clear signal of our commitment to the region and the UK.

“The North East is a fast-growing and vibrant location for innovation and inward investment, which is one of the key reasons why we have seen an increase in the number of business owners, entrepreneurs and individuals seeking wealth-management and investment expertise.

“Opening an office here provides our clients with unrivalled local knowledge, combined with global insight. Even in a challenging economic environment, we continue to be committed to growing our presence across the UK.”

He added: “The business has a clear mission to invest across the UK and hire the best talent to provide a market-leading service for our clients.

“Aidan, Alison and Stacey all bring extensive local knowledge and experience of the private-banking and wealth-management market in the North East.”

JBI client assets stood at £19.2bn at the end of 2022.

The financial services group has named António Simões as chief executive, subject to regulatory approval.

Simões will join from Banco Santander, where he has been regional head of Europe since September 2020.

Brooks Macdonald

Andrea Montague has joined the wealth manager as executive director and chief financial officer, effective 1 August 2023, subject to regulatory approval.

She was most recently group chief risk officer at Aviva, where she had previously been group chief financial controller.

Julius Baer

The wealth manager has appointed Stacy Wong as its team head for southeast Asia.

Julius Baer confirmed the move to our sister publication Fund Selector Asia.

Wong joins Julius Baer from UBS, where she played an integral role in advising Indonesia’s ultra-high net worth and high net worth clients for 19 years before becoming a desk head for the same market.

Investec Wealth & Investment

James Neale has joined the firm as an investment manager in Cheltenham.

He joins Investec Wealth & Investment from Canaccord Genuity Wealth Management, where he was investment manager with responsibility for managing discretionary portfolios for in house IFAs.

Navigation Wealth Management

The company has hired Stephen Luwero as a financial adviser.

He joins the Yorkshire-based firm from investment management company Charles Stanley, where he was client relationship manager and business development manager for the Beverley area.

Continuum

The IFA firm has expanded its team in Wiltshire with the appointment financial planner Stephen Hall.

Hall has been providing clients with bespoke financial advice for over 23 years and joins Continuum after 13 years at Positive Solutions.

Hampden & Co

UK private bank has appointed Patrick Preece as a banking director in its London office.

Preece joins from Investec, where he worked in their City professionals team.

The UK wealth management group has named Alan Mathewson as chief executive.

This move follows the planned restructuring of Verso’s executive team to support the next phase of its strategic growth plan.

Mathewson was previously chief executive of private bank Brown Shipley.

Verso co-founders Andrew Fay and Simon Redgrove will continue to be actively involved, leading the firm’s distribution and acquisition strategy as members of the Verso group board.

Fiera Capital

The asset manager has named Klaus Schuster as executive director and chief executive for Europe, Middle East and Africa.

In his most recent role, Schuster acted as chief executive for EMEA and global head of wealth management distribution at Pinebridge Investments.

Julius Baer

The wealth manager has bolstered its Basel branch with a couple of hires.

Gabriele Klass has joined the bank as a relationship manager, André Giehl will take over as head of a local high net worth relationship manager team, and Salvatore Cuppuleri will be a relationship manager.

Klass joins Julius Baer from Basler Kantonalbank, where she had worked for the past four years in private banking as a relationship manager.  Giehl had worked for Credit Suisse for around 13 years, mainly in Basel, including eleven years as a client adviser.

Cuppuleri was a client adviser in private banking at Credit Suisse.

Canada Life

The insurance giant has appointed Tom Evans to the position of managing director of retirement.

He was named interim managing director of retirement in Autumn 2022, subsequent to a tenure as managing director of home finance.

Oberon Investments

Harry Finster has joined the investment firm as investment manager.

He left his role as a portfolio manager at Atomos Wealth.

Capital Group

The asset manager has hired Angela Jin as the head of financial intermediaries in Hong Kong.

Before joining Capital Group, Jin held various roles in the banking and finance industry.

She was most recently the head of private banking at Pimco, where she spent eight years building the firm’s wealth management business in north Asia.

Lumera

The life and pensions fintech firm has appointed Kerstin Hessius to its board of directors.

Hessius is the former chief executive of the Third Swedish National Pension Fund (AP3), a position she held for 18 years until the end of 2022.

The asset management giant has named Peter Hall as chairman of Schroders Wealth Management and Mary-Anne Daly as global head of wealth management.

Hall will continue to oversee Schroders’ global wealth strategy and to chair the Cazenove Capital and Benchmark Capital boards.

Daly retains her role as chief executive of Cazenove Capital, while also taking ultimate responsibility for the wealth management offices in the Channel Islands, Switzerland, and Singapore.

She will chair the boards of Schroders Channel Islands. Schroders Bank, and Schroders Asia.

Dominic Emmerson has also become deputy chief executive of Cazenove Capital.

Novia Financial

The platform business has appointed Lucy Bristow as chief customer officer, with immediate effect.

Bristow moved to Novia from the Wealthtime platform in March last year to take up the role of strategic partnerships director with responsibility for senior relationships with strategic adviser partnerships across the group and she had more recently stepped into the role of people experience director.

To support Bristow, Nicola Clark, who previously worked at Novia’s sister platform Amber, rejoins the business as customer service transformation lead.

Man Group

The global investment management firm has appointed Robyn Grew as chief executive.

This comes after Luke Ellis informed the board of his decision to retire.

Grew is currently president of Man Group and a member of the senior executive committee, based in the US.

She will take over from Ellis as chief executive as of 1 September 2023, at which time she will also join the Man Group Board as an executive director. While she will relocate to the UK following her appointment, she will continue to spend a substantial proportion of her time in the US, given the firm’s presence there.

Ellis will continue as chief executive and remain an executive director of the company until 1 September 2023 to ensure an orderly transition and oversight of the company’s 2023 interim results.

BNY Mellon Pershing

The provider of global financial business solutions has named Colin Murphy as chief commercial officer of its Emea business, effective May 2023.

Murphy joins from SmartTrade, where he was chief revenue officer.

The Openwork Partnership

The UK financial services network has recruited Warren Vickers as commercial development director.

He was previously managing director at Tenet Compliance Services.

Nucleus Financial

The adviser platform has appointed Heather Hopkins as chair of its advisory board.

Hopkins is managing director and founder of consultancy firm NextWealth.

Stonehage Fleming

Natasha Newell has been named as director to the group’s family office team in Guernsey.

She has extensive experience of offshore trusts, having worked as a senior lawyer for some offshore law firms, most recently Carey Olsen.

The Independent Investment Management Initiative (IIMI)

The boutique asset management think tank has named Dani Hristova as chief executive.

Hristova joins from Nordea Asset Management, where she was responsible for building the firm’s presence in the UK insurance market.

M&G Wealth

The advice firm has appointed Ella Hugh as its director of proposition and marketing.

Hugh joins the company from Abrdn. where she was latterly group chief of staff and head of client proposition having held senior strategy, planning and management roles since 2016.

Close Brothers Asset Management

The wealth firm has named Adam Finlay as investment manager.

With over 10 years’ experience in the wealth management sector, Finlay began his career at Capelin Financial Management, a West Midlands IFA firm, before joining Investec Wealth & Investment in 2016.

Tyndall Investment Management

The wealth manager has appointed three investment professionals to its private client practice.

Mark Jenkins and Dennis Cooper join the firm as investment directors, while Joe Holland assumes the role of assistant investment manager.

All three join Tyndall from Walker Crips.

Deutsche Bank International Private Bank (IPB)

The banking group has appointed Arjun Badhwar as the deputy head of its global south Asia team.

Badhwar, who is based in Singapore, will take on his role immediately and report to Rajesh Mahadevan, the head of global south Asia.

Julius Baer

Marcel Suhner has taken on the role of head of intermediaries for German- and Italian-speaking Switzerland at the wealth manager.

He is taking over from Michel Yigit, who has decided to pursue a new opportunity outside the bank.

Suhner has been with Julius Baer since 2015, when he joined the intermediaries northern Europe and UK business development team.

Since 2016, he has been head of intermediaries Europe.

David Reymond, head of intermediaries Apac and Emea, will take over as head of intermediaries Europe ad interim.

Progeny

Freya Robertson has been appointed to the new role of chief of staff to the chief executive.

She previously spent four years as executive assistant to chief executive Neil Moles.

Impax Asset Management

The asset manager has hired Leah Wood as global head of marketing and client experience.

She joined Impax in 2016 to build and lead the client service function in North America, and most recently held the role of head of global client experience.

Artemis

The fund manager has hired Toby Gibb as head of investment solutions.

He joins in June from Fidelity International, where he most recently held the role of global head of investment directing.

Also, Artemis has announced that David Hollis will take over management of its multi-asset, absolute return vehicle, the Artemis Strategic Assets Fund.

Hollis joined Artemis in October 2022 to develop systematic, multi-asset solutions for retail and institutional clients.

Evelyn Partners

The wealth management and professional services group has hired Ciara Oliver as a financial planner in its London team.

Oliver was previously at UBS Wealth Management and Killik & Co.

TrustQuay

The technology provider for trust sector has named Diane Betts as global head of professional services.

She previously led digital transformation and payment solution programmes for global banking clients at Fiserv and Dovetail.

Quilter Cheviot

The investment manager has hired Margaret Schmitt as responsible investment analyst.

Schmitt joins Quilter from infrastructure consulting firm AECOM, where she held the role of climate and sustainability consultant.