BOA’s non-US wealth arm, which has been put for sale, includes units in Asia excluding Japan, Europe and the Middle East and Latin America.
Sources close to the matter told Reuters that Switzerland based bank Julius Baer is also mulling to bid for some part of the BOA wealth businesses on sale.
BOA’s non-US business manages approximately $90bn of an estimated $2 trillion that the BOA wealth division oversees worldwide.
Bank of America is facing huge losses and lawsuits related to its 2008 acquisition of subprime mortgage lender Countrywide Financial.
The bank is currently inthe process of notifying the shortlisted bidders after the first round of bidding closed earlier this month, the news agency reported.
RBC’s wealth management business acquisitions include British fund manager BlueBay Asset Management for $1.5bn.
