Wilbur Ross says he's looking at banks

NEW YORK, April 9 (Reuters) - Billionaire investor Wilbur Ross, who made his fortune making bold bets on distressed industries, said on Wednesday that he expects his next bet to be on banks.

"I believe the next phase of the cycle will be the failure of depositary institutions," Ross said, speaking at a conference in New York. He added that depositary institutions are "the next thing we will be trying to go into."

Ross also said he is interested in adding to his $95 billion of subprime mortgage servicing assets. Ross said last month he was buying the subprime mortgage servicing business of H&R Block Inc (HRB.N: Quote, Profile, Research) for $1.1 billion. (Reporting by Emily Chasan, writing by Dan Wilchins)