Credit Suisse Group AG and Royal Bank of Canada are interested in bidding for the non-U.S. wealth management businesses of Bank of America Merrill Lynch, Reuters reported, without saying who provided the information.
Julius Baer Group Ltd. is interested in bidding for some of the businesses, the newswire said, adding the total sale could be worth about $2 billion. The units manage about $90 billions, the report said.
Bank of America has received non-binding bids, Reuters said. Spokespeople for the four banks declined to comment, Reuters said.