Julius Baer plans to spin off its U.S. mutual fund business in an IPO early next year, two sources with knowledge of the situation tell Bloomberg News
. The IPO of Julius Baer Investment Management may happen as early as December, with the completion coming in the first quarter of 2008. Executives at Baer have been evaluating their options for the investment management division because it does not fit with its parent's focus on private banking. The investment management unit is based in New York and manages more than $74 billion.
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