EQS Group-News: Julius Baer Group Ltd.
/ Key word(s): Acquisition
Julius Baer to develop real estate offering as part of Swiss market strategy
21.07.2021 / 07:01
As part of its market strategy for Switzerland, Julius Baer is extending its real estate offering beyond its current focus on mortgage financing. To that end, the Group is taking a first step by acquiring 83% of Kuoni Mueller & Partner (KMP), a leading integrated real estate service provider based in Zurich. Dominik Weber, currently the majority owner and CEO of KMP, will assume the new position as Head Real Estate Advisory at Julius Baer.
Zurich, 21 July 2021 - To address the growing need for holistic real estate solutions in Switzerland, Julius Baer will create a new unit, fully dedicated to this important asset class. It will extend its current offering from mortgage financing to the entire life cycle of real estate, including advisory, brokerage, financing and structuring, as well as related services such as investment management, valuation and specialised property management.
Julius Baer will provide these services together with KMP, of which it will acquire a majority stake of 83%. Price details of the transaction with KMP, which is profitable, were not disclosed; however the acquisition will not have a material impact on Julius Baer's capital ratios. The new subsidiary will constitute an integral part of Julius Baer's real estate offering, while acting as a strategic partner in the fields of real estate valuation, property management and commercial as well as residential real estate brokerage. It will do so using both traditional and digital channels, such as its proprietary platform Maklando. In residential brokerage, KMP's strong footprint in the greater Zurich area shall be expanded to the French-speaking part of Switzerland and coverage is also to be established in Ticino. Julius Baer will continue to collaborate with third-party real estate providers and also ensure an open-architecture approach going forward.
As of Q4, Dominik Weber, currently the majority owner and CEO of KMP, will build Julius Baer's new Real Estate unit. He brings longstanding and extensive experience in the various fields of real estate, from investment management to commercial brokerage, especially in Switzerland but also abroad. He will be instrumental in developing Julius Baer's real estate offering, while remaining a minority owner and acting as chairman of KMP.
Dieter Enkelmann, Group CFO and Head Finance & Markets Julius Baer, commented: 'I am delighted that we will be able to provide Swiss and international clients with a state-of-the-art offering for their real estate investment needs in Switzerland. In Dominik Weber, I am convinced that we have appointed the right professional to run and develop our services jointly with the KMP team, the many relationship managers involved, and the subject matter experts in our bank. The new offering will bring benefits to all stakeholders involved, above all to the clients.'
Dominik Weber, CEO of KMP and designated Head Real Estate Advisory of Julius Baer, said: 'I am proud that we have found a new partner in Julius Baer that will take KMP to the next level. I am equally excited to build a strong real estate franchise within Julius Baer, the leading independent Swiss wealth management group. This step builds on our decades of experience in the Swiss real estate sector and our vast network, and it gives me personally a new challenge that is mutually beneficial for both Julius Baer and KMP.'
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Portrait Kuoni Mueller & Partner
KMP is a leading integrated real estate service provider offering services along the real estate value chain covering commercial and residential real estate brokerage, real estate valuation services, property management and real estate advisory services in Switzerland. The company with 40 employees is organized as a partner model and its headquarters are located in Zurich. The company was founded in 1989.
About Julius Baer
Julius Baer is the leading Swiss wealth management group and a premium brand in this global sector, with a focus on servicing and advising sophisticated private clients. In all we do, we are inspired by our purpose: creating value beyond wealth. At the end of June 2021, assets under management amounted to CHF 486 billion. Bank Julius Baer & Co. Ltd., the renowned Swiss private bank with origins dating back to 1890, is the principal operating company of Julius Baer Group Ltd., whose shares are listed on the SIX Swiss Exchange (ticker symbol: BAER) and are included in the Swiss Leader Index (SLI), comprising the 30 largest and most liquid Swiss stocks.
Julius Baer is present in over 25 countries and more than 60 locations. Headquartered in Zurich, we have offices in key locations including Dubai, Frankfurt, Geneva, Hong Kong, London, Luxembourg, Mexico City, Milan, Monaco, Montevideo, Moscow, Mumbai, São Paulo, Singapore and Tokyo. Our client-centric approach, our objective advice based on the Julius Baer open product platform, our solid financial base and our entrepreneurial management culture make us the international reference in wealth management.
For more information, visit our website at www.juliusbaer.com
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