Julius Baer to separate its Private Banking and Asset Management businesses into two independently listed companies

Wednesday, 20. May 2009 07:00
Corporate news announcement processed and transmitted by Hugin AS.
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- Private Banking: all activities to be grouped and listed under
Julius Baer Group Ltd.

- Asset Management: GAM, Artio Global and Julius Baer Asset
Management Europe to be combined into listed GAM Holding Ltd.

- Opportunity for both businesses to deliver their full strategic
potential

- Improved transparency and substantially enhanced strategic
flexibility for both units

- Concluding step of the pure financial holding company principle
introduced in 2007

Zurich, 20 May 2009 --- The Board of Directors of Julius Baer Holding
Ltd. has decided to separate Julius Baer's Private Banking and Asset
Management businesses into two fully independent entities, both
individually listed on the SIX Swiss Exchange. Julius Baer Group Ltd.
will focus on private banking services while GAM Holding Ltd. will
concentrate on active asset management. This move will substantially
increase the two companies' strategic flexibility and enhance their
market visibility. The transaction is expected to be completed during
the third quarter 2009, subject to shareholder and regulatory
approvals.

Julius Baer will be separated into two distinct, independent
entities, both listed on the SIX Swiss Exchange. Julius Baer Group
Ltd. will be a leading pure-play private banking group, with a focus
on servicing and advising private clients. GAM Holding Ltd. will be
an independent active asset manager, composed of GAM, Artio Global
Investors and Julius Baer Asset Management Europe.

The transaction is expected to enhance both businesses' ability to
deliver their full strategic potential by allowing each entity to
focus on the implementation of an increasingly distinct business and
expansion strategy. In addition, it will provide improved
transparency and increased market visibility for both private banking
and asset management. The transaction is not expected to result in
any redundancies.

As a leading pure-play private banking group, Julius Baer Group Ltd.
will stand to benefit from private clients' increasing level of
demand for the services of an independent, strongly capitalised and
fully dedicated private banking franchise. This Group will maintain
the expansion of its international network and complete the shift of
its services and product model towards a unique, fully fledged 'open
architecture' philosophy, allowing for a truly unrestricted choice of
the best services and products available for the benefit of its
clients.

GAM Holding Ltd. will be a leading active asset manager, offering a
broad, well diversified range of equity and fixed income investment
funds, discretionary portfolio management services and alternative
investments. As a stand-alone entity, the business will be able to
accelerate the development of its international institutional and US
distribution franchise. The intention to proceed with the IPO of
Artio Global in 2009 is confirmed, subject to market conditions.
The planned separation of the current Julius Baer Group into two
independently listed corporate groups will conclude the gradual
operational independence which has been afforded to the two business
segments of private banking and asset management since the
implementation of the pure financial holding company principle in
2007. Given its well established and strong relationship, GAM will
remain the preferred product provider for the private clients of
Julius Baer Group Ltd. particularly for funds of hedge funds.

"We are very pleased with our new strategic direction. In light of
the challenges that many financial services business models are
confronted with currently, we are convinced that both entities will
benefit from their sharpened focus and the absence of competing
interests, thus acting pro-actively in the best interest of all of
our stakeholders", comments Raymond J. Baer, Chairman of Julius Baer
Holding Ltd.

The transaction will be subject to shareholder and regulatory
approvals. An Extraordinary Shareholders' Meeting (EGM) is targeted
for 30 June 2009. An information brochure for shareholders with
further detailed information will be made available prior to the EGM.
The completion of the transaction with the separate listing of the
two independent companies' shares is expected to take place at the
end of the third quarter 2009.

Due to the transaction, the results of Julius Baer Group for the
first half 2009 will be released on 27 July 2009 (previously: 22 July
2009).

Press and analyst conference

Julius Baer will provide additional information about the
contemplated transaction at a presentation for media representatives
as well as for analysts and investors taking place at 09.00 a.m. CET
today at the Park Hyatt Hotel, Beethovenstrasse 21, Zurich. Questions
will be answered at the presentation.

There are several ways to participate in the conference. The
presentation material will be available from 08.30 a.m. CET today at
www.juliusbaer.com:

Park Hyatt Hotel, Beethovenstrasse 21, 8002 Zurich
Doors opening at 08.30 a.m. CET
Speakers:
Raymond J. Baer, Chairman
Dieter A. Enkelmann, Group CFO

By telephone
For European callers: Dial +41 91 610 5600
For UK callers: Dial +44 207 107 0611
For all other callers: Dial +1 866 291 4166
shortly before 09.00 a.m. CET to listen to the presentation live and
for the possibility to ask questions

Via Internet Webcast (no opportunity to ask questions)
Go to http://gaia.world-television.com/live/20090520/trunc
shortly before 09.00 a.m. CET

The live presentation will be recorded. The audio cast can be
replayed by dialling the same telephone numbers as above during 48
hours following the presentation. Alternatively, the full Internet
Webcast may be replayed using the same link as above during the
coming weeks.

Contacts
Media Relations: Tel. +41 58 888 8888
Investor Relations: Tel. +41 58 888 5256

About Julius Baer
The Julius Baer Group, founded in 1890, is the leading dedicated
wealth manager in Switzerland. It concentrates exclusively on private
banking and asset management for private and institutional clients.
Julius Baer's total client assets amounted to CHF 338 billion at the
end of 2008, with assets under management amounting for CHF 275
billion. Bank Julius Baer, GAM and Artio Global Investors are the key
businesses of Julius Baer Holding Ltd., whose shares are listed on
the SIX Swiss Exchange and form part of the Swiss Market Index (SMI),
which comprises the 20 largest and most liquid Swiss stocks.

Julius Baer employs a staff of over 4,000 in more than 20 countries
and 40 locations, including Zurich (head office), Buenos Aires,
Dubai, Frankfurt, Geneva, Hong Kong, London, Lugano, Milan, Moscow,
New York, Singapore and Tokyo.

For more information visit our website at www.juliusbaer.com.

Important Disclaimer
THIS PRESS RELEASE DOES NOT CONSTITUTE OR FORM PART OF ANY OFFER OR
INVITATION TO SELL, SUBSCRIBE FOR, UNDERWRITE OR OTHERWISE ACQUIRE
ANY SHARES IN JULIUS BAER HOLDING LTD., JULIUS BAER GROUP LTD. OR ANY
OTHER SECURITIES, NOR SHALL IT OR ANY PART OF IT NOR THE FACT OF ITS
DISTRIBUTION OR COMMUNICATION FORM THE BASIS OF, OR BE RELIED ON IN
CONNECTION WITH, ANY CONTRACT, COMMITMENT OR INVESTMENT DECISION IN
RELATION THERETO.

Important Notice Regarding Forward-Looking Statements
THIS PRESS RELEASE INCLUDES FORWARD-LOOKING STATEMENTS REGARDING
EVENTS AND TRENDS THAT ARE SUBJECT TO RISKS, UNCERTAINTIES AND
ASSUMPTIONS AND OTHER FACTORS THAT COULD CAUSE THE ACTUAL RESULTS AND
FINANCIAL POSITION OF JULIUS BAER HOLDING LTD. TO DIFFER MATERIALLY
FROM THOSE EXPRESSED IN, OR SUGGESTED BY, THESE FORWARD-LOOKING
STATEMENTS. IMPORTANT FACTORS THAT COULD CAUSE THOSE DIFFERENCES
INCLUDE, BUT ARE NOT LIMITED TO: LIMITATIONS OR CONDITIONS IMPOSED ON
JULIUS BAER HOLDING LTD. IN CONNECTION WITH SEEKING CONSENT FROM
REGULATORS TO THE COMPLETION OF THE TRANSACTION, TRANSITION SERVICES
ISSUES, CHANGING BUSINESS OR OTHER MARKET CONDITIONS, GENERAL
ECONOMIC CONDITIONS IN SWITZERLAND, THE EUROPEAN UNION, THE UNITED
STATES AND ELSEWHERE, AND JULIUS BAER HOLDING LTD.'S ABILITY TO
RESPOND TO TRENDS IN THE FINANCIAL SERVICES INDUSTRY. THE FORGOING
LIST OF FACTORS IS NOT COMPLETE JULIUS BAER HOLDING LTD. DOES NOT
UNDERTAKE TO UPDATE ANY FORWARD-LOOKING STATEMENTS THAT IT MAY MAKE.



--- End of Message ---

Julius Baer Holding
Bahnhofstrasse 36, P.O. Box Zurich
Switzerland

ISIN: CH0029758650; Index: SLCI, SMI, SMIEXP, SPI;
Listed: Main
Market in SIX Swiss Exchange;

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