March 4, 2019 / 6:24 AM / 3 months ago

Julius Baer buys majority stake in Mexican asset manager NSC Asesores

FILE PHOTO: The logo of Swiss private bank Julius Baer is seen at the bank's headquarters in Zurich, Switzerland February 1, 2017. REUTERS/Arnd Wiegmann

ZURICH (Reuters) - Julius Baer has acquired an additional 30 percent in Mexican wealth manager NSC Asesores, the Swiss private bank said on Monday, taking its overall stake to 70 percent.

Zurich-based Julius Baer, which originally bought a 40 percent holding in NSC Asesores in 2015, paid an undisclosed amount to increase its shareholding. The deal for NSC Asesores, which manages assets of some $3.5 billion, will immediately add to Julius Baer’s earnings per share, the Swiss bank said.

Reporting by John Revill

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