Bloomberg News

Credit Suisse, RBC Interested in BofA Wealth Units, Reuters Says

May 17, 2012

Credit Suisse Group AG (CSGN) and Royal Bank of Canada (RY) are interested in bidding for the non-U.S. wealth management businesses of Bank of America (BAC:US) Merrill Lynch, Reuters reported, without saying who provided the information.

Julius Baer Group Ltd. (BAER) is interested in bidding for some of the businesses, the newswire said, adding the total sale could be worth about $2 billion. The units manage about $90 billions, the report said.

Bank of America has received non-binding bids, Reuters said. Spokespeople for the four banks declined to comment, Reuters said.

To contact the reporter on this story: Thomas Mulier in Geneva at

To contact the editor responsible for this story: David Risser at

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Companies Mentioned

  • BAC
    (Bank of America Corp)
    • $17.62 USD
    • 0.09
    • 0.51%
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