Julius Baer and Siam Commercial Bank to Establish Joint Venture
March 08 2018 - 1:33AM
Dow Jones News
By Nathan Allen
Julius Baer Gruppe AG (BAER.EB) said Thursday that it will enter
a joint venture with Siam Commercial Bank PCL (SCB.TH) to provide
wealth-management services to customers in Thailand.
Julius Baer will initially hold 40% in the joint venture, with
the option to increase its stake to 49% over time, the company
said.
The move will give Julius Baer access to the fast-growing Thai
wealth market, which is currently valued at around $300 billion,
the company said.
Neither company disclosed financial deals and the joint venture
is subject to regulatory approvals.
Write to Nathan Allen at nathan.allen@dowjones.com
(END) Dow Jones Newswires
March 08, 2018 01:18 ET (06:18 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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