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Julius Baer to buy ING Swiss private bank unit: sources

    SINGAPORE (Reuters) - Dutch financial services firm ING has agreed to sell its Swiss private banking asset to Julius Baer , two sources with knowledge of the deal said.

    The announcement is likely to come later on Wednesday, one of the sources told Reuters.

    As part of a global restructuring, ING is selling its Asian and Swiss private banking units in what would be the biggest deal in the wealth management industry since the credit crisis began.

    HSBC and Switzerland's Julius Baer have been seen as the front-runners for the assets. On Tuesday, Julius Baer CEO Boris Collardi told Reuters he expected an outcome to the sale "very soon."

    (Reporting by Saeed Azhar; Editing by Lincoln Feast)

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