UBS to advise Julius Baer on ING private bank bid-sources

SINGAPORE Aug 13 (Reuters) - Julius Baer (BAER.VX) has hired UBS (UBSN.VX) to advise on a possible bid for ING private banking units in Asia and Europe, sources with knowledge of the deal told Reuters on Thursday.

"UBS is advising Julius Baer," said one of the sources, who declined to be indentified because the talks are not public.

Julius Baer has emerged as a strong contender for these assets, which ING wants to sell for more than $1 billion by September, sources told Reuters last week. [ID:nL7427736].

A spokeswoman for Julius Baer in Hong Kong and a UBS spokesman in Hong Kong declined to comment.

(Reporting by Saeed Azhar; Editing by Neil Chatterjee)