Boris Collardi, CEO of Swiss private bank Julius Baer, addresses a news conference in Zurich August 13, 2012. Baer, which is Switzerland's third-biggest listed private bank, said on Monday it will acquire Bank of America Merrill Lynch's private bank outside the U.S. for 1.47 billion Swiss francs ($1.5 billion), bumping up its assets by 40 percent. REUTERS/Arnd Wiegmann (SWITZERLAND - Tags: BUSINESS HEADSHOT)