Landsbanki, an Icelandic financial services group, has bought 81% of Kepler Equities, an institutional brokerage business formerly known as Julius Baer Brokerage, for €76m ($95m). The broker was sold two years ago by Julius Baer, the Swiss private bank, in a management buy-out backed by US private equity company Lightyear Capital. Landsbanki will buy the remainder over the next five years.

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