Hedge Funds

UBS to buy Julius Baer's North American wealth management unit

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UBS announced it will acquire Swiss private bank Julius Baer's wealth management operations in North America and integrate the unit into UBS's Wealth Management and Business Banking group.

The move is part of a plan to strengthen UBS's services to high-net-worth investors in the U.S. Julius Baer's wealth management division manages more than $4 billion in client assets, a significant portion in hedge fund strategies.

Already a giant in the alternatives world, through its purchase of Baer UBS will add a new series of fund of funds as well as hedge funds, which include the Julius Baer Global Rates