Julius Baer won't get in bidding war for RBS unit

Julius Baer Logo

Swiss private bank Julius Baer is interested in acquiring Coutts International, a unit of Royal Bank of Scotland, but will not get into a bidding war for the venerable British bank's overseas arm, a Swiss paper reported on Sunday.

'Coutts has to be an issue for us, if only because of the name and the brand,' Julius Baer chief executive Boris Collardi told mass-market newspaper Sonntagsblick in an interview.

Reuters reports that RBS said in August it was considering selling the international arm of Coutts in a deal that industry sources said could net it as much as $1 billion.

Collardi said there had been no talks with RBS.

'I'm sure RBS will contact us once they have decided what to do with Coutts,' he said. 'We are in the comfortable position that we can wait. There are not many banks that can integrate a business of that size.'

Hit the link below to access the complete Bloomberg News article:

Julius Baer eyes Coutts international arm, wary of bidding war

Deutsche Bank underwrites SAP's acquisition financing - sources

JefferiesAnd the Best Place to Work in the global financial markets 2018 is...

Register for HITC Business News