The Wall Street Journal-20080213-Swiss Bank Plans Unit-s IPO

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Swiss Bank Plans Unit's IPO

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ZURICH -- Swiss private bank Julius Baer Holding Co. said it is preparing an initial public offering of stock in its U.S.-based mutual-funds unit this year.

The unit, best known for a successful international stock fund with $72.3 billion in client assets, has little overlap with the bank. The equities arm is estimated by analysts to post profit of about 110 million Swiss francs ($99.8 million) annually.