Julius Baer CEO Hints at Search for Megadeals to Boost Scale
- Purchase that adds 100 billion francs of assets is possible
- Baer to focus on organic growth this year and next, CEO says
Julius Baer Group Ltd. headquarters office in Zurich, Switzerland.
Photographer: Stefan Wermuth/BloombergThis article is for subscribers only.
Julius Baer Group Ltd. Chief Executive Officer Philipp Rickenbacher gave his strongest hint yet that the Swiss bank is seeking a deal big enough to rival its 2012 acquisition of Bank of America Merrill Lynch’s international wealth management operations.
A transaction that adds at least 100 billion francs ($118 billion) of assets “could be a reality” in the future, though it will depend on the quality of the business and the price, he said on an earnings call on Monday.