BofA Talks Sale Of Non-US Wealth Biz To Swiss Bank

Law360, New York (June 19, 2012, 1:06 PM ET) -- Swiss bank Julius Baer Group Ltd. is in discussions to purchase Bank of America Corp.'s international wealth management business, according to a statement Tuesday by the would-be buyer.

The legacy Merrill Lynch unit — which analysts said could be worth more than $2 billion — would diversify the assets of Julius Baer, one of few European banks currently in a buying mode. It would also be one of BofA's biggest divestitures to date in its post-recession slimdown, and one that strikes far closer to its core...
To view the full article, take a free trial now.
Try Law360 for free for seven days
Already a subscriber? Click here to login

Already have access?

  1. Forgot your password?
  2. Sign In

Get instant access to the one-stop news source for business lawyers