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

Law360, New York (June 19, 2012, 1:06 PM EDT) -- 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, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.