Julius Baer primes for second M&A wave in private banking
Add BT as a preferred source
Singapore
JULIUS Baer, ranked the fifth-largest private bank in Asia, expects consolidation in the private-banking market in the next three years, as competing players buckle under the strain of costs and call it quits, said its top executive.
Speaking to The Business Times in Singapore, Bernhard Hodler, the bank's chief executive, said what sets the incoming second wave of mergers apart from the first wave - when Julius Baer scooped up Bank of America-Merrill Lynch's (BofAML) non-US wealth-management business in 2012 - is the better odds of compelling prices.
TRENDING NOW
Two-thirds of Sentosa Cove resales in the red, with average loss topping S$1 million since 2023
How BYD disrupted Singapore’s car market – and why the strategy is turning on itself
After a strong Q2, what’s next for Singapore banks? Analysts see DBS, OCBC ahead on wealth
Laos-China Railway picks up steam, but S-E Asian country struggles to capture gains
