Julius Baer has transferred Merrill Lynch’s International Wealth Management business based in Ireland with a goal of gaining a new foothold in the market.
Merrill Lynch had run private banking activities in Ireland for over a decade, but the financial advisory team and client base transferred to Julius Baer in the previous week. The new Irish business will run as a branch of Julius Baer International and be located in Dublin.
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Gian Rossi, head of Northern, Central and Eastern Europe for Julius Baer, said: "I very much look forward to welcoming the new clients and colleagues to Julius Baer. Gaining a foothold in Ireland will enable us to further expand our footprint."
Adam Horowitz, UK head, who joined Julius Baer earlier in the integration process, said: "Thanks to Julius Baer’s reputation as a leading pure private bank with global reach, I am sure both clients and employees will benefit from the unique local and international investment knowledge and the independent advice the combined businesses will be able to provide."
This is part of the continuing acquisition of Merrill Lynch’s international wealth management business, as previously reported by PBI.
