The announcement by Julius Baer on Monday, January 3, that it will sell Wergen & Partner Wealth Management for an undisclosed sum to its management, will have made M&A bankers in Europe and beyond prick up their ears.
Wergen was only bought in February 2017 by the Swiss private banking firm, which said it decided that after carrying out a strategic review, Wergen would “develop best under its existing and future management” team led by founder and chief executive Manfred Wergen.
The two are vastly different animals.
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