"The U.S. business was always good in terms of performance and a strong contributor to growth, " said analyst Christian Stark at CA Cheuvreux.

FORBES: Julius Baer To Spin Off U.S. Mutual Fund Unit

Christopher Potts, an analyst with Cheuvreux de Virieu, a French stockbroker, thinks that, after the deal, the need for further change will be undeniable.

ECONOMIST: Suez and Lyonnaise des Eaux