Julius Baer Said to Weigh Potential Deal for Swiss Rival EFG (2)

Julius Baer Group Ltd. is exploring a potential acquisition of rival Swiss private bank EFG International AG, people with knowledge of the matter said.

Zurich-based Julius Baer has held preliminary discussions with EFG in recent weeks about the possibility of a combination, according to the people, who asked not to be identified because the information is private. Shares of EFG were up 1.2% in Friday trading, giving the firm a market value of 3.8 billion Swiss francs ($4.2 billion).

A deal between the two banks would create a wealth manager with more than 500 billion francs in assets under ...