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| Scale shortfall: Julius Baer concluded that $4 billion in assets in the US could not readily be brought up to a competitive level |
Julius Baer has decided to pull out of the North American wealth management market, having sold its private-banking business there to UBS Wealth Management for an undisclosed amount. The mid-size Swiss bank had been in the US since 1940, and was ones of the first Swiss private banks to be onshore in the region.
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