UBS Bank (Canada) said Friday it has completed the acquisition of Julius Baer’s wealth-management operations in Canada.

Julius Baer’s Canadian business was based in Montreal with four employees. Its operations have been integrated into the wealth-management business group of UBS in Canada.

UBS says it will leverage its existing infrastructure and product platform in the Americas to seamlessly integrate the Julius Baer business. This will benefit clients and their advisors by giving them access to the wide product range available through UBS’s integrated business model, it adds.

“The Julius Baer acquisition has substantially bolstered our presence in Montreal,” said Grant Rasmussen, head of UBS Canada’s wealth management business. “We are strategically expanding across Canada in order to ensure that high net worth Canadians have unparalleled access to the world’s capital markets.”

“The transition went smoothly and Julius Baer’s clients will continue to benefit from a long-standing private banking heritage,” said Karel Nemec, formerly with Julius Baer and now head of the UBS Wealth Management team in Montreal. “As UBS clients, they can benefit from the experience, expertise and the global capabilities of UBS.”