View all newsletters
Have the short, sharp Spear's newsletter delivered to your inbox each week
  1. Wealth
June 14, 2012

FT: UBS, Credit Suisse, Julius Baer in running for Bank of America Merrill Lynch non-US wealth unit

By Spear's

The auction for the global private wealth management arm of Bank of America’s Merrill Lynch unit is under way with the final bidders including Wells Fargo and three Swiss banks, Credit Suisse, Bank Julius Baer and UBS, according to people familiar with the matter

The auction for the global private wealth management arm of Bank of America’s Merrill Lynch unit is under way with the final bidders including Wells Fargo and three Swiss banks, Credit Suisse, Bank Julius Baer and UBS, according to people familiar with the matter.

The unit, which has $90bn under management for clients in Europe, Asia and Latin America, could fetch more than $3bn, these people add.

The auction for the non-US operations of the division comes at a time when banks are torn between their need to shed non-core assets to raise capital and their desire to grow their non-capital intensive, fee-earning businesses and are increasingly focused on managing the money of their wealthiest clients.

To read the full story, visit ft.com

Content from our partners
Porto Montenegro: Adriatic Elegance Tailored to You
Family office gold rush in Hong Kong
Top of the league for football fans

Select and enter your email address The short, sharp email newsletter from Spear’s
  • Business owner/co-owner
  • CEO
  • COO
  • CFO
  • CTO
  • Chairperson
  • Non-Exec Director
  • Other C-Suite
  • Managing Director
  • President/Partner
  • Senior Executive/SVP or Corporate VP or equivalent
  • Director or equivalent
  • Group or Senior Manager
  • Head of Department/Function
  • Manager
  • Non-manager
  • Retired
  • Other
Visit our privacy policy for more information about our services, how Progressive Media Investments may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications.
Thank you

Thanks for subscribing.

Websites in our network