Daily News: February 1, 2013

BofA Closes Sale of International Wealth Management Business


Bank of America announced that all pre-conditions necessary to allow principal closing of the sale of its International Wealth Management business based outside the United States have been met. As a result, ownership of Merrill Lynch Bank (Suisse) transferred to Julius Baer Group. Further transfers will occur in due course.

Bank of America serves individual consumers, small- and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services.

The Julius Baer Group a Swiss private banking group, focusing exclusively on the demands of private clients, family offices and independent asset managers from around the world.