ZURICH, Dec 7 (Reuters) - Swiss private bank Julius Baer expects more consolidation in the domestic market but played down the chances of bidding for BSI, the private bank that Brazil’s BTG Pactual may sell, the Financial Times quoted Baer’s chief executive as saying.
“Swiss consolidation is not over, there will be lots more deals,” the FT quoted Boris Collardi as saying in an interview published on Monday.
Brazilian investment bank Grupo BTG Pactual is considering the sale of a series of assets to improve its liquidity, but has not signed any deals yet, the bank said on Friday.
Swiss media outlet RSI reported that Julius Baer and Intesa Sanpaolo could be among the banks interested in buying BSI. Baer and Intesa declined comment. (Reporting by Michael Shields; Editing by David Holmes)