Julius Baer Gruppe AG In Talks Over Bank of America Corp's Non-US Wealth Unit-Reuters

Reuters reported that Julius Baer Gruppe AG was in talks about buying Bank of America Corp's non-U.S. wealth management operations, reported to be worth up to $2 billion. CNBC had reported on Monday that Julius Baer was close to a deal to buy the unit. Reuters reported in April that Bank of America had put its wealth management unit outside the United States up for sale as the business, which manages $90 billion for rich clients, was not large enough to generate sufficient income.