The Swiss bank Julius Baer will cease its operations in Panama and Peru.

Julius Baer declares its willing to maintain relations with current customers in the two countries, while bankers and support staff will be transferred to the offices of Bahamas, Chile or Switzerland.

The bank is carrying out a «strategic realignment» of activities in Latin America, focusing in particular on the three largest markets in the area: Argentina, Brazil and Mexico.

It is also studying the possible implementation of a representative office in Mexico, the entry into the Argentine market and the further expansion in Chile and Colombia through strategic partnerships.

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