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Report: Bank of Ireland in talks to buy Irish asset manager

Bank of Ireland is in advanced talks to purchase Covestone Asset Management, excluding its private equity and property investments business, The Irish Times reported Dec. 9, without citing sources.

Dublin-based Covestone has more than €100 million in AUM and was put up for sale by founder Donal Roche earlier in 2016, according to the report. The acquisition would represent a push by Bank of Ireland into the wealth management business, the newspaper noted.

Covestone is expected to be absorbed into Bank of Ireland's private banking business if a deal goes through.