Julius Baer May Cut 1,000 Jobs After Merrill Acquisition
The bank seeks to reduce its workforce by 15%–18%, now that it has a combined staff of some 5,700 in the wake of its acquisition of Bank of America-Merrill Lynch’s former U.S. wealth management units.
Swiss Banks Giving Up Employees to IRS, DOJ
Thousands of employees of Swiss banks are finding that their employers are hanging them out to dry in exchange for hoped-for leniency in connection with American accounts involved in a tax evasion investigation.
Swiss Bank Baer Seen Close to Deal for Merrill Non-U.S. Wealth Units
Swiss money manager Julius Baer Group was reported to be close to a deal to buy the units that could be announced as early as Monday.
Merrill Loses Four Advisors to Wells Fargo
The departures come on the heels of news that BofA is selling some operations to Julius Baer and firing some U.S. Trust managers.