Julius Baer talks up Merrill acquisition

Group CEO Boris Collardi offers assurances that the Swiss private bank can successfully integrate the international wealth management business of brokerage Merrill Lynch.

Julius Baer talks up Merrill acquisition

Julius Baer has unveiled plans to buy the international wealth management business of Merrill Lynch in what group CEO Boris Collardi called “the worst-kept secret over the Zurich summer”.

The deal will see Michael Benz transfer from his post as Asia-Pacific head of wealth management at Merrill Lynch to Asia chairman for Julius Baer, reporting directly to Collardi. Tom Meier remains Asia chief executive and a member of the bank’s executive board.

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