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The Boston Globe

Business

Swiss bank to cut 1,000 positions

GENEVA — Swiss private bank Julius Baer says it plans to cut about 1,000 jobs from Merrill Lynch’s wealth management operations outside the United States following a deal to buy the unit from Bank Of America.

The Julius Baer Group based in Zurich said in a statement Tuesday that its target for reducing staff is ‘‘by 15 percent to 18 percent’’ from about 5,700 in 50 locations worldwide — anywhere from 855 to 1,026 jobs.

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