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Due Diligence

BofA Selling Non-US Wealth Management?

According to reports on Reuters and Fox Business News, Bank of America is planning to sell its non-U.S. wealth management businesses to raise capital. The bank is reportedly hoping to snag $3 billion for the units, which manages $90 billion in assets for the wealthy.

Such a move would stand in great contrast to UBS, which is making big investments in its non-US wealth management divisions.

Bank of America was not immediately available for comment.

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