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/Bloomberg

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By Patrick Winters and Marion Halftermeyer

February 1, 2021 at 11:13 AM UTC

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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.