Swiss private bank Julius Baer Holding is understood to be looking at an initial public offering or a management-led buyout for New York-based Julius Baer Investment Management after talks to sell it stalled.

According to Reuters, talks with Affiliated Managers Group and Legg Mason about a sale were derailed by pricing issues and it has now hired Goldman Sachs to lead an IPO.

The bank is also considering a sale to the unit's management, similar to the sale in January of its UK-based fixed income subsidiary, another source said.

JBIM managed $68.6 billion in assets, mostly in equities, as of end-June. Its key products are the Julius Baer International Equity Fund, which is closed to new investors and had $27 billion in net assets as of end-October, and the International Equity Fund II, with $9.7 billion in net assets.