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More than 1,000 jobs may go as ink dries on Julius Baer-BofA ML deal

More than 1,000 jobs may go as ink dries on Julius Baer-BofA ML deal

Julius Baer could cut more than 1,000 jobs following its acquisition of Bank of America Merrill Lynch's non-US wealth management business.

In a statement the Swiss bank said it expected a reduction in its 5,700 combined head count of between 15% and 18%.

The deal was struck for roughly $2 billion in June and marked the end of long-running discussions about a bid between the two firms.

Julius Baer has previously said it expects the deal to turn profitable in 2015.

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Profile: The opportunity set that attracted Brett Williams to wealth management

Profile: The opportunity set that attracted Brett Williams to wealth management

Brett Williams is best known for helping to build some of the biggest platforms in the IFA market.He made the move over to wealth management to head SEI’s UK business earlier this year in the belief that this is where the best opportunities now lie.

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