Julius Baer and Nomura have inked a pact for the Japanese market. The Swiss private bank will cater to Nomura’s high net worth client base, allowing the bank to sell international services at home.
Nomura is acquiring a 40 percent shareholding in Julius Baer’s wholly-owned Japanese subsidiary. The unit provides international wealth management services to Julius Baer’s high net worth client base in Japan.
The investment represents a significant step forward for both firms’ strategic ambition for the Japanese market and will provide Julius Baer access to Nomura’s high net worth franchise, the two companies said on Thursday. Neither firm disclosed financial details of the move.
Japanese Rebranding
In Japan, Julius Baer specializes in the provision of discretionary investment services. Its Zurich-based portfolio management team provides the mandate services via its senior relationship managers in Tokyo.
The Swiss bank's subsidiary in Japan will be renamed to Julius Baer Nomura Wealth Management to underscore the strategic partnership. «Working together with Nomura and its comprehensive domestic network and knowledge, we can best share our internationally diversified offering with a new audience and maximize the value of our presence in Japan,» CEO Bernhard Hodler said.
