Swiss bank Julius Baer eyes Bank of America unit

AP News
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Posted: Jun 19, 2012 3:48 AM
Swiss bank Julius Baer eyes Bank of America unit

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.