5:20 PM New York – Artio Global Investors, the asset management arm of Julius Baer priced its public offering of 25 million shares at $26 each. Stock in intra-day traded as high as $28.10 and closed at $27.25. More than 50% of offered shares changed hands in the first day of trading.

Artio Global Investors Inc, the asset management arm of Swiss private bank Julius Baer was spun-off in a public offering.

The 25 million shares listed on the New York Stock Exchange under the symbol ART were priced at $26 each. Underwriters have an option to buy additional 3.75 million shares. The offering was priced at the upper end of its filing range and offer size was revised higher from 24 million shares.

The company is known for its international equity funds and has successfully raised assets under management from $7.5 billion at the end of 2003 to $53.3 billion at the end of August of this year.

After the completion of the offering, Julius Baer Holding Ltd will control 35% of voting rights and 47.3% of economic rights, two principal shareholders will own 13% of voting rights and no economic rights and public shareholders will control 39% voting rights and 52.7% economic rights.

The company plans to use $495.6 million of net proceeds to repurchase 21 million shares of class C shares from Julius Baer Holding Ltd and $28.3 million to purchase class A common stock each from Richard Pell and Rudolph-Riad Younes.

Chief Executive Richard Pell will also receive $48.4 million and $22.7 million for profit distributions for 2008 and 2009 and head of international equity Rudolph-Riad Younes will receive $49.3 million and $21.5 million for the profit distribution for 2008 and 2009.

The company will have a total of 60.6 million outstanding shares after the offering.

Revenues increased in 2008 to $422 million $300.4 million in 2006 and net income surged to $61.15 million from $44.77 million in the corresponding years.

Goldman, Sachs & Company was the global coordinator and Bank of America Merrill Lynch was co-lead manager for the deal.