Tuesday, Jun. 19, 2012

Swiss bank Julius Baer eyes Bank of America unit

By The Associated Press

GENEVA (AP) — Swiss private bank Julius Baer Group says it is in talks to buy Bank of America's non-U.S. wealth management business.

Julius Baer said in a brief statement Tuesday that "given the early stage of these discussions, the outcome is entirely open."

The unit, which is part of Bank of America's Merrill Lynch subsidiary, manages some $90 billion for wealthy customers outside the United States.

2012-06-19 07:48:48 GMT

Copyright 2012. The Associated Press All Rights Reserved.
The information contained in the AP News report may not be published, broadcast, rewritten or redistributed
Ads by FindLaw

Legal News