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Julius Baer snaps up stake in Brazilian wealth manager

The Swiss bank has been expanding in the emerging markets, where the number of high-net-worth individuals continues to grow

Julius Baer has acquired a minority stake in a Brazilian wealth manager as it continues to expand its footprint in emerging markets, which last year helped bolster the private bank’s assets.

The Swiss firm announced today it had acquired a 30% stake in GPS, which has offices in Sao Paulo and Rio de Janeiro, for an undisclosed amount.

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