In 2011, ABN AMRO sold its Swiss Private Banking business to UBP, shortly afterwards Morgan Stanley and Merrill Lynch followed suit, each selling their International Private Banking units to Credit Suisse and Julius Baer. In 2020 this trend continued and more recently, it was broadcasted that Rothschild are set to purchase Banque Paris Bertrand, plus, Intesa Sanpaolo have acquired 69% of REYL. As recruitment leaders in banking and financial services Selby Jennings keep a close eye on acquisitions and consolidations and how they create opportunities from a hiring perspective. For example, where acquisitions and consolidations created opportunities with regards to job-placements, these transitions can also be slow, bureaucratic, and often have internal implications, thus causing prior content bankers to consider new opportunities.