Julius Bär Gruppe AG acquired the shares of Wergen & Partner Vermögensverwaltungs AG and will merge the company with its WMPartners Wealth Management Ltd. business.
The transaction, terms of which were not disclosed, is expected to be completed in the second quarter. Zurich-based Wergen & Partner Vermögensverwaltungs manages assets totaling more than CHF600 million.
Manfred Wergen, founder and CEO of Wergen & Partner, will sit as a member of the executive board of the combined company, which will be headed by WMPartners CEO Daniel Aegerter. All partners of both companies will remain operational after the merger.