Julius Baer interested in Barclays private wealth business in Asia

Following our report yesterday, highlighting that Julius Baer is considering potential acquisitions, its CEO, Boris Collardi, has revealed the private Swiss bank is interested in bidding for Barclays' Asian private wealth business. Julius Baer is looking for private banking assets that either stand alone or are part of a larger bank.

Private bank Julius Baer is considering whether to bid for Barclays’ Asian private wealth business as part of the group’s acquisition campaign, Chief Executive Boris Collardi told Reuters on Monday.

Reuters reports that Barclays has picked Lazard to help advise on the deal amid efforts to scale back in Asia, three sources with knowledge of the matter said last month.

‘We haven’t decided yet whether this (business) is something interesting for us or not, but I think we’re going to see more of that happening’, Collardi said in a telephone interview, elaborating on earlier comments about potential takeovers.

‘We normally look at everything in order for us to come to a conclusion whether it is interesting or not. That’s how we can be expressing ourselves so clearly about a number of other targets’, he added.

To access the complete Reuters article hit the link below:

Julius Baer taking look at Barclays Asia wealth arm – CEO

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