Julius Baer Buys Merrill Wealth Units in U.A.E, Bahrain - Bloomberg

Julius Baer Buys Merrill Wealth Units in U.A.E, Bahrain - Bloomberg:

"Julius Baer Group Ltd. (BAER) took over businesses in Lebanon, Bahrain and the United Arab Emirates as Switzerland’s third-largest wealth manager integrates the Merrill Lynch operations acquired last year.
“Gaining new footholds in the Middle Eastern markets of Lebanon and Bahrain and strengthening our existing Dubai presence is an important step for us and will enable us to further expand our footprint in this key growth region,” Remy Bersier, a member of the Zurich-based bank’s executive board, said in an e-mailed statement today.
The employees, client relationships and majority of assets from the three units were transferred in the first days of this month and the process should be completed in the first quarter of next year, the company said."

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