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Julius Baer enters Irish wealth market

Julius Baer enters Irish wealth market

Julius Baer has acquired Merrill Lynch's Dublin-based wealth management arm.

Merrill Lynch has run private banking activities in Dublin since 2001 and both the team, headed by John Crowe, and clients have transferred to Julius Baer.  

The transaction follows the Swiss wealth manager's acquisition of Merrill Lynch's international wealth management arm in August 2012, for which it paid $881 million (£526 million).

'The team in Dublin is very excited to be part of the Julius Baer family,' Crowe said in a statement. 

'It is an extremely positive statement that a major Swiss Private bank such as Julius Baer is launching a new office in Ireland.'

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