Julius Baer, the Swiss private wealth manager, has exited the race to acquire Davy. The departure of Switzerland’s third-biggest bank from the running leaves up to five potential buyers circling Davy, which was put on the market after a Central Bank rebuke prompted a political backlash and the loss of several key clients. While Julius Baer would have the balance sheet to easily acquire Davy, its average client size is much larger than Davy. The Irish stockbroker and wealth manager handles a more diverse range of clients ranging ranging from a handful of multibillionaires down to investors with assets in…

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